Strong-arm tactics by BP?
BP has been sued by the City of Houston and Harris County, TX, for losses sustained after the Macondo disaster. Today, BP ran an ad in Texas newspapers. An interesting read. BP tells the readers in Texas that:
"BP paid $10.5 billion to Texas-based vendors in 2012, helping to support 3,400 businesses throughout the state; it paid more than $160 million in royalties and other state taxes that year; and annually the company, its employees and the BP Foundation spend millions more in local charitable donations."
BP then not-so-subtly issues this threat: "You have a responsibility to consider the effects their decisions to bring these suits will have on the economic health of the region and the state in the years to come as [BP] decides whether or not to invest here."
See, BP couldn't use the "fraudulent claim" line because Texans know the losses were real. Instead, BP is opting for threats to leave.
Of course, it's far too profitable for BP to leave, even if it has to pay it's damages.
These are not nice people at BP!!
It's not clear to me how the arbitration ruling could directly effect BP. But it can't be good news.
I believe Russia is ordered to pay the $50B, not Rosneft. But Putin will surely refuse, which could trigger sanctions against Russia's oil/gas industry, including Rosneft.
BP was well-aware when it bought into Rosneft that it was buying into illegally seized assets. When Putin seized the assets of Yukos, the assets were sold off for $9B to Rosneft (state-controlled). A classic "no-bid" auction. Now Rosneft has a value of $115B.
They say bad karma begets bad karma.
Are you Steve who used to post here? You defended be against a poster named nadsmis on the BP and COP boards. I could use a little help from you again!
Great analysis. You seem very civil. We need more of that. Some people are complete losers. Doesn't it feel better when you put them on ignore?
Look forward to more great posts by you!!
Another SP by the BP.
Readers, disregard any of this nonsense by the racist stalker and his phantom friends. He's obviously in the death throes of psychiatric breakdown and it hopefully won't be long before he takes an involuntary hiatus from the civilized world.
I consider this matter now closed.
Look everyone. The racist stalker has a new sock puppet named 2dogsdad. This is probably the 8th sockpuppet I've seen from that sick old man.
Do you know what we do to internet bullies/stalkers? Hit them back!
2dogsdad, go tell your racist stalking puppeteer it's time for him to stop blaming women for his anatomical SHORTcomings, i.e., his small pecker.
Oh it's the resident misogynist stalker.
Again, it's not my fault - or the fault of any woman - that he is inadequate. Hit bullies back, expose stalkers, say no to racists, and end internet harassment.
Nadsmis has a little pecker. Rinse and repeat.
That poster is an outlier who seems to cherry-pick data and didn't even try to publish in a peer-reviewed journal! Did you know that's how scientists tell if a theory is reputable or not - it's got to be peer-reviewed!
98% of scientists believe global warming is occurring and is caused by the release of greenhouse gases from people.
You can continue to stick with your outliers, I will remind people of what the actual scientific consensus is.
Are there any posters here who are scientists? I'd love to hear from you!
That's a fair point that lawyers in this country frequently abuse the system and are motivated too often by profit.
But the same can be said for corporate behavior.
Let's try to be objective and everyone will benefit.
Thank you, and good luck to you in your endeavors/investments
nadsmis the #$%$ stalker, takes out his anatomical shortcomings on women.
Not my fault God gave him a little pecker.
He takes out his cognitive limitations on Asians.
Not their fault God gave him a lame brain.
Thanks again to all for shunning his kind. We make the world a better place for civilized adults.
and files defamation suit against BP challenging BP's "campaign of misinformation and intimidation."
As reported in today's Nola Times.
I think everyone can agree we need more objective information and facts, and less corporate spin.
I read today that the US leads the world in harboring climate change deniers.
One read of 2dogsdad's gibberish provides a glimpse into the juvenile stupidity that passes for communication, confirming what the rest of the world knows - American men lead the world in stupidity when it comes to issues affecting the world!!
Your writing sounds very familiar, like that of an old friend. His name was Tom, and he formerly posted here. That is, until he was driven off by a racist who hated Asian-Americans such as yourself, or such as Tom.
Is this you, Tom. If you're more comfortable, I will use the alias "Chuck." I miss your tender ways.
You might be interested to learn that June 2014 set another record for hottest June on record. In fact, that's 29 years of consecutive months with above-average temperatures, dating back to 1985.
I'm sure in your mind, it's all a big conspiracy by the liberal scientists.
Keep mocking, you'll be docking (your house when the sea levels rise). I made that one up myself, when you hear it you'll know I'm the real deal.
"I am talking about the fraudulent claims that have been made and paid out with government support. The majority of claims is now believed to be completely or partially fraudulent."
That claim is absolutely false. If you believe claims are fraudulent because a bright-line causation test is not required, your anger should be directed at BP, which agreed on this to avoid litigation.
FYI, the 5th Circuit court of appeals reversed the district court and ruled that former BP employees could sue their fund manager for negligently investing in BP shares in light of the Macondo disaster.
Based on prior posts from you, this sounds like a ruling that could benefit you.
And it didn't help BP's cause that the oil spill response plan it submitted prior to drilling at the Macondo site was cut and pasted from a North Sea plan, and found completely unreliable after the disaster.
The government took the position that, at a minimum, BP must show it has an updated recovery plan for the Gulf before the moratorium would be lifted.
One would think shareholders would want assurances that this type of disaster is not repeated.