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Thread: oil spill?

  1. #1
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    Default oil spill?

    I can't figure out why i haven't heard any comments on what could be the worst disaster in this country yet.
    Also wonder why they had to drill in 1 mile deep water instead of closer where there just as much oil?
    I hear a lot of blame placed on the oil companys instead of political people in charge , after all don't they issue the permits?

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    Hurricane season is nearly upon us too. Living in Florida, I am well aware of hurricanes. When the storms start rolling around in the Gulf in a few months, I would imagine it will really spread that mess around.

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    Team Member Tim Chance's Avatar
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    When British Petroleum (BP) bough Amoco and changed the name to Beyond Petroleum (BP), it actually still is British Petroleum just with a new name. So my question is what is the British government doing about this mess caused by a British company?

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    Sam Cullis Mark75H's Avatar
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    Quote Originally Posted by Tim Chance View Post
    When British Petroleum (BP) bough Amoco and changed the name to Beyond Petroleum (BP), it actually still is British Petroleum just with a new name. So my question is what is the British government doing about this mess caused by a British company?
    What would the US government do about something caused by American Airlines? As far as I know, BP is a privately held company.
    Since 1925, about 150 different racing outboards have been made.


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    Default Welcome to CORPORATE socialism by a monopoly??

    US House votes quadrupling of per-barrel oil tax Published: Friday May 28, 2010


    The US House of Representatives on Friday voted to more than quadruple a per-barrel oil tax that fills a special trust fund to pay for damages from major spills like the Gulf of Mexico disaster.

    The measure called for raising the eight-cent-per-barrel tax to 34 cents, raising nearly 12 billion dollars over 10 years for the Oil Spill Liability Trust Fund, which currently holds about 1.5 billion dollars.

    The legislation, which passed by a 215-204 margin, also aimed to raise the cap on per-incident trust fund expenditures from one billion dollars to five billion dollars.

    Some analysts have warned that the price tag for the catastrophic oil spill that resulted from the explosion aboard the Deepwater Horizon offshore drilling platform run by BP could top 14 billion dollars.

    BP is legally responsible for all cleanup costs, but is only liable for up to 75 million dollars in economic damages -- a cap that vanishes if the British energy giant is found to have been negligent or engaged in willful misconduct.

    To the extent that costs above that are not covered by BP -- which has vowed to pay all "legitimate" claims -- up to one billion dollars of the additional damages could come about of the trust fund.


    You can read the rest of the article at:
    http://rawstory.com/news/afp/US_Hous..._05282010.html


    If you or I get a speeding ticket, we have to pay the fine or go to jail. No socialized subsidy to cover our fines. If you or I rob a bank, we go to jail and suffer the consequences. We don't get a socialized subsidy to pay back the bank we robbed, like TARP. It's no wonder that for years many people have called Washington, DC the District of Criminals. This is why you cannot have monopolies operating in a "free" market system. They become free monopolies that cannot be regulated. They have to be broken up. Where's the responsibility and accountabity for the big corporations, like we the little mom and pop taxpayers are subjected to every day of our lives? This is not representation of, by and for the people.

    If you agree with me that we should not have to pay higher taxes on oil to cover BP's mistakes, call your Senators next week before the vote and voice your opinions to them so that it does not become a situation of taxation without representation.

    thanks,

    Paul A Christner

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    Did you know that Goldman Sachs shorted transocean ind. the DAY before the oil spill happened... netting a HUGE profit.

    Also, Did you know that there was a billion dollar insurance policy on the rig that exploded....

    Also, Warren buffet invested in NLC or Nalco... which is the company that makes the dispersant that they are using in the gulf of mexico right now... it has trippled since he invested and bought almost 9 million shares. He netted 150 million in profits in one year on buying that stock....

    If anyone wants sources for this I can find it, otherwise try a quick google search and you will find that this is all true....

    Sounds to me like the oil spill was no accident...
    Broc Hill

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    Sam Cullis Mark75H's Avatar
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    I would be more inclined to say it was a good bet on a likely accident rather than a deliberate act.

    Originally we were told BP officials were on the DH to give the crew a safety award ... the transcripts released say it was because the DH crew was balking on using seawater instead of heavy drilling mud as was SOP and the BP execs were there to override the crew.


    As far as why they drill there ... there isn't as much oil closer to shore in shallower water. They are drilling where the oil is.
    Since 1925, about 150 different racing outboards have been made.


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    Team Member Tim Chance's Avatar
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    According to BP's annual report, on December 31, 1998, BP shares, (before the merger with Amoco), were widely held by 25,584 banks, 5,524 trust companies (including pension plans), 107 insurance companies, 3,206 other companies, 1,555 other institutional investors, and 479,814 individual investors and the Government of Kuwait - for a total of 515,790 shareholders. Banks were by far the most important group of investors, holding 87% of BP shares.

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    I think BP was drilling there because.....that's where the oil is.

    Question: Has the U.S.truly reduced it's demand for for oil since say the early 1970's. If so, by what percentage?

    I'm going car shopping this weekend. A 4 cylinder under the hood for sure. It'll suit my needs just fine. I don't have fantasies about automobiles.

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    Default Amazing!!

    We have enough manpower to paint rocks on some military bases and the question i ask is where's the manpower for the clean up???At this point it doesn't matter who pays the bill as i'm sure they will be re-embursed by the AMERICAN PEOPLE , us in other words as always.
    So what's the hold up? Get this mess cleaned up or at least try to stay even.
    Richard

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