This is too much to bear. To all the sick freaks saying BP is being treated unfair and needs to leave the country, they need to see what Brazil did yesterday - passed a law saying oil profits from the state-owned oil company there go to education and health care.
Only when people get so warped in their views, watching cnbc/fox/wall street journal/Bloomberg/etc all day, do they forget oil is a natural resource and really should belong to everyone.
To have a company like BP come over and rape the ground without concern for safety, then complain that they are the victim for having to pay the settlement agreement they authored?!? It's too much, and this company needs to be absolutely brought to its knees and held accountable for each and every dime of damage they caused.
I'll be G-damned if I'm going to stand by and watch this travesty unfold!!
Sentiment: Strong Sell
First of all, nobody holds a gun to your head to use BP's products.
Secondly, the firm employs people and pays dividends to shareholders.
So if you want to #$%$ and moan about something try crooked Gulf Coast lawyers and the parasites who are employed by hedge funds to short stocks and steal the wealth created by the companies they short.
Do you know that only 6% of the oil produced in the world today is owned by the oil companies and the other 94% is owned by governments and produced by BP and others for a fee? Do you know why governments often switch to BP to produce their oil in stead of sticking with state owned companies? Want to make a guess?
You state "oil is a natural resource and really should belong to everyone".
Aren't you long on two other oil companies: COP and RDS-B?
Are you saying that the state/government should own all the oil in their territory?
We live in an imperfect world mitigated by laws requiring companies wishing to extract oil to at least have to submit applications showing they can drill safely. BP lied on its applications - cut and pasted from its north sea applications! Rightfully, the EPA barred them from all federal contracts.
Yes, I would happily invest in companies that comply with our laws (at a reasonable price, as Warren Buffet would say!). BP is not one of them. And it's still overvalued imo!!
Ikki, you said you were leaving us...!! figures. you got squeezed, didn't you? told ya. you lost principle and had to cover dividends. primarily, you incurred opportunity costs. you played the wrong one short here.
And yes, the people receive their share too when they sell unknown oil in place. Often, one out of ten times, the oil in place the people sell does not exist. BP pays them anyway. And if there is oil, BP does its job and the people receive more money in the form of taxes, royalties, property taxes and god knows how many other taxes. The people spend that money on a myriad of government programs, including eduction and healthcare. The people receive, receive and receive more. Now the people are treating BP like trash because a few BP workers made mistakes or had bad luck hitting a high pressure gas pocket. The treatment BP receives is obscene. Why can't you open your eyes and be honest. What's keeping you trapped in the lies?
BP profits go to education and healthcare also. Except that in BPs case the people sold the oil in place to BP and its investors for them to find, produce, refine and market. To then argue that the fruits of all that labor are owned by the people and not by the laborers and investors, as you suggest, amounts to theft and slavery. The rightful owners of these profits use it for health care and education, just like Brazil, in addition to food, clothing and housing. Is that wrong? Why don't you try thinking for a chance. In case you don't know where your brains are; check between your ears and you will find a brand new pair, never used, ready to show you the way. I wish you the best. Seriously.
America is a free country-- anyone that wants to can find,drill,refine,and distribute their oil. Problem is how the heck do you find oil that is a mile under the ocean and the a couple of miles through dirt. Even if someone told me it was there I could not begin to figure out how to extract. First thing socialist (as opposed to capitalist) say is let the government do it. Remember the space shuttle that was lost on reentry -- heck the government knew those tiles have vibrated lose on previous re-entries--- where was the outrage then OH that's right you can not sue the government. No I just of soon BP,XOM,COP etc. supply me with fuel product. So let me just sell drilling rights and tax profits-- I don't really want everyone drilling and certainly not government.