What is keeping BP above 50? The unlimited liability they are exposed to right now is not understood by most in the market. I'm a Certificed Risk Manager and based on my experience, if this were the company I worked for, the Risk Management department would be instructing the BP management to brace for a 40% reduction in share price to the 35-40 pps range....and all that goes with that kind of a drop in value to investors, ie shareholder lawsuits and the like. The wrongful death suits of the 11 dead employees alone will surpass 100 million...in my opinion, this is the short of the century right now. I have no position now but will short the entire balance of my brokerage acount on this stock Monday am...just wait to see how bad things get for BP.
Wait until they find out what really caused the explosion.
I believe the gas outlined as a moderate risk in there Mississippi canyon studies where more of a risk.
As describes by those on the rig, there was a gigantic gas explosion.
MORE, MORE, MORE AND MUCH MORE TO FOLLOW.
"Methinks?" Listen, Shakespeare, better hurry up and take your nap, or you'll miss the four o'clock seniors' special at GOLDEN CORRAL !
And if you feel threatened about what women say today, consider moving to Iran or someplace else where your values are still current !
At this point it's impossible to even guess what BP's total financial liability will be. That's why owning this stock is so risky. What's more, the potential liability for other oil companies with offshore exposure, puts most of the sector under a very dark cloud.
Yep, LOTS of crazies and just plain idiots on here. I was flipping through channels and came across Dan Aykroyd on Larry King talking about the Steven Hawking recommendation that earth not pursue contact with alien life forms and let me tell you...that Dan Aykroyd is NUTS...reminds me of alot of the posters on here, coming up with all kinds of wild ass guesses, quoting rumors as fact, having no clue about the subject matter he was talking about...
Makes for entertainment though to see how much time and energy the nutjobs are wasting on this crap though:)
Guess you've not heard of "deeper pockets," eh, Judge Dredd ? Halliburton didn't buy the lease from the Minerals Management Service, BP did. THEY'RE the ones with the documentation on file, not Cameron, or the others. Tick, tock.
It will be the courts who assess blame. But BP's environmental record in the US alone pretty much ought to take care of that.
Wonder who their NEXT CEO will be....?