Now that BP is down nearly 50% does the question ever arise... when is the time to jump in on this? I know that there is a lot of hatred and animosity out there towards BP currently "Boycott their gas" etc etc...
But when this situation is eventually corrected... will BP pick up right where they left off? The second the news comes out... BP has plugged the hole... or oil leaking is minimal... does the stock skyrocket back up?
I know that a lot of people in here were very high on BP before this incident... can they recover from this?
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Now that BP is down nearly 50% does the question ever arise... when is the time to jump in on this? I know that there is a lot of hatred and animosity out there towards BP currently "Boycott their gas" etc etc...
But when this situation is eventually corrected... will BP pick up right where they left off? The second the news comes out... BP has plugged the hole... or oil leaking is minimal... does the stock skyrocket back up?
I know that a lot of people in here were very high on BP before this incident... can they recover from this?
I would not buy anything that bp is selling......ever, gotta draw a line somewhere. Please put your money in something else. That is blood money on any increase in stock price. It should be shorted into the ground and be gone, it won't but should be.
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I would not buy anything that bp is selling......ever, gotta draw a line somewhere. Please put your money in something else. That is blood money on any increase in stock price. It should be shorted into the ground and be gone, it won't but should be.
BP could go much lower. The oil spill has not been stopped yet. The media has downplayed this disaster, the Gulf Coast will feel this for 5-10 years to come. BP is in trouble.
BP could go much lower. The oil spill has not been stopped yet. The media has downplayed this disaster, the Gulf Coast will feel this for 5-10 years to come. BP is in trouble.
Will be interesting to see how this shakes out. At some point this will make sense for one of the major oil integrators to buy-out BP..... even with all its liabilities stacking up.
XOM makes strategic sense because it has boatloads of cash, and lacks a significant investment in off-shore drilling like BP. Like it or not, BP is the leader in deep-water drilling rigs. Competitors Shell & Chevron fall behind, and Exxon (XOM) is near the bottom when it comes to off-shore drilling.
Will be interesting to see how this shakes out. At some point this will make sense for one of the major oil integrators to buy-out BP..... even with all its liabilities stacking up.
XOM makes strategic sense because it has boatloads of cash, and lacks a significant investment in off-shore drilling like BP. Like it or not, BP is the leader in deep-water drilling rigs. Competitors Shell & Chevron fall behind, and Exxon (XOM) is near the bottom when it comes to off-shore drilling.
Some more bad news to BP, and to all those chattering heads that due to BPs tens of billions in cash, any cleanup costs are just a drop in the bucket. Credit Suisse has just come out with a new estimate of total clean up costs and liabilities to BP: the Swiss firm sees BP paying between $15 and $23 billion in clean up costs plus $14 billion of claims. The punchline: "This would absorb 3 years of BP’s free cashflow after dividends and capex (at $80/bbl oil) and require a 10% rise in gearing; raising dividend risk." Maybe all those who are looking to jump into BP stock should consider waiting just a little longer...
Some more bad news to BP, and to all those chattering heads that due to BPs tens of billions in cash, any cleanup costs are just a drop in the bucket. Credit Suisse has just come out with a new estimate of total clean up costs and liabilities to BP: the Swiss firm sees BP paying between $15 and $23 billion in clean up costs plus $14 billion of claims. The punchline: "This would absorb 3 years of BP’s free cashflow after dividends and capex (at $80/bbl oil) and require a 10% rise in gearing; raising dividend risk." Maybe all those who are looking to jump into BP stock should consider waiting just a little longer...
They will when it makes strategic sense...who, or what company would not?
I would certainly be planning it if I were in their shoes.
The show trials that seem to be a daily festivity these days (hey, look, there is Warren Buffett, let's make HIM responsible for the real estate bust!!) will provide sick entertainment for fools and Congress (I know, an utter redundancy).
They will when it makes strategic sense...who, or what company would not?
I would certainly be planning it if I were in their shoes.
The show trials that seem to be a daily festivity these days (hey, look, there is Warren Buffett, let's make HIM responsible for the real estate bust!!) will provide sick entertainment for fools and Congress (I know, an utter redundancy).
The upshot of all this lunacy is that this country is too politically intertwined with Israel and the middle east to shun middle east oil and do our own ONSHORE drilling to harness and start using natural gas.
Anyone with a pea-brain can see how ridiculous and unbelievable this country's atrocious energy program/policy is.
The upshot of all this lunacy is that this country is too politically intertwined with Israel and the middle east to shun middle east oil and do our own ONSHORE drilling to harness and start using natural gas.
Anyone with a pea-brain can see how ridiculous and unbelievable this country's atrocious energy program/policy is.
We are literally FLOODED with NG..there are limited uses for NG and if there were practical ways to substitute it vs crude/gasoline I am sure it would happen given the huge reserves and amounts of it we have.
There are kits to make a car NG friendly but it is costly and there arent enough places to fill it up with.
NG is sitting on some serious lows, it is too bad we cannot use it more.
CC,
We are literally FLOODED with NG..there are limited uses for NG and if there were practical ways to substitute it vs crude/gasoline I am sure it would happen given the huge reserves and amounts of it we have.
There are kits to make a car NG friendly but it is costly and there arent enough places to fill it up with.
NG is sitting on some serious lows, it is too bad we cannot use it more.
CC...Adams was a funnier guy than normally portrayed!! Unfortunately I conjure up the image of Paul Giamatti grinding his teeth when I hear the name...a pity.
The catalog of stupid energy policies since the oil embargo (and since Three Mile Island) is about to be added to...
I suspect the Brazilians will applaud if we ban deepwater drilling, so they can develop the Tupi fields and sell it back to us....while Congressmen will be asked to power themselves to work based on a new self propelled hot air vehicle.
CC...Adams was a funnier guy than normally portrayed!! Unfortunately I conjure up the image of Paul Giamatti grinding his teeth when I hear the name...a pity.
The catalog of stupid energy policies since the oil embargo (and since Three Mile Island) is about to be added to...
I suspect the Brazilians will applaud if we ban deepwater drilling, so they can develop the Tupi fields and sell it back to us....while Congressmen will be asked to power themselves to work based on a new self propelled hot air vehicle.
Yeah, the John Adams thing from HBO stays in your head. And yeah, Adams was not shy about his opinions.
WSC-
Well, we have got to use our brains and start converting our transportation fuel systems to NG, come hell or high water. We have no choice. Not that T Boone Pickens is anyone's hero, but he is right about the foolishness of our dependence on foreign oil.
Ironic, but Haliburton is the one with the hydro-fracturing technology to bring the NG out of the rocks.
Vermeer-
Yeah, the John Adams thing from HBO stays in your head. And yeah, Adams was not shy about his opinions.
WSC-
Well, we have got to use our brains and start converting our transportation fuel systems to NG, come hell or high water. We have no choice. Not that T Boone Pickens is anyone's hero, but he is right about the foolishness of our dependence on foreign oil.
Ironic, but Haliburton is the one with the hydro-fracturing technology to bring the NG out of the rocks.
I had a pretty good stake in BP before the disaster, added small positions as it was sliding down, and sold all of it earlier in the week. Dip Shit Me !
What did it for me was the failure of its "top-kill" effort... even though it was pegged for only a 60-70% success rate by CEO Hayward.
Even with its best efforts to cut the riser pipe earlier in the week and cap it... plenty of oil will still leak in the Gulf for another couple of months until drilling of the relief well is completed.
As bad as things are now... it's hard to believe things will continue to get worse... but how can't they when you have more oil in the Gulf everday ?
To say the future of BP is at stake is an understatement. I don't know how analysts can set a price on this for BP when you have the overhang of the Justice Department... and you still can't even turn off the oil faucet in the Gulf.
It was discussed yesterday BP will have to sell some assets to raise cash. What assets? How much ? I still say one of its competitors (XOM ?) may be in the best position on this... scooping up BP assets at a discount..
I had a pretty good stake in BP before the disaster, added small positions as it was sliding down, and sold all of it earlier in the week. Dip Shit Me !
What did it for me was the failure of its "top-kill" effort... even though it was pegged for only a 60-70% success rate by CEO Hayward.
Even with its best efforts to cut the riser pipe earlier in the week and cap it... plenty of oil will still leak in the Gulf for another couple of months until drilling of the relief well is completed.
As bad as things are now... it's hard to believe things will continue to get worse... but how can't they when you have more oil in the Gulf everday ?
To say the future of BP is at stake is an understatement. I don't know how analysts can set a price on this for BP when you have the overhang of the Justice Department... and you still can't even turn off the oil faucet in the Gulf.
It was discussed yesterday BP will have to sell some assets to raise cash. What assets? How much ? I still say one of its competitors (XOM ?) may be in the best position on this... scooping up BP assets at a discount..
I've now seen T Boone Pickens on CNN twice looking very Smart, and he is absolutely SHORT on Oil. He said they have a plan on Energy using Nat'l Gas and getting off of OPEC oil raping. I was all over more energy efficient cars thinking the Hummer had a limited market and I cannot see any advantage of owning a big oil firm, other than they own the roads and coke bottles we purchase. BP will struggle since these next elections will require candidates to state either they are for or against oil-drilling and to be for oil-drilling when you have oil pouring on the FLA coast will cost them their seats. I think this is a bigger issue in the short-term over abortion or any other made up issue.
I've now seen T Boone Pickens on CNN twice looking very Smart, and he is absolutely SHORT on Oil. He said they have a plan on Energy using Nat'l Gas and getting off of OPEC oil raping. I was all over more energy efficient cars thinking the Hummer had a limited market and I cannot see any advantage of owning a big oil firm, other than they own the roads and coke bottles we purchase. BP will struggle since these next elections will require candidates to state either they are for or against oil-drilling and to be for oil-drilling when you have oil pouring on the FLA coast will cost them their seats. I think this is a bigger issue in the short-term over abortion or any other made up issue.
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