BP - what's the worst that can happen?
Discussion
So I was talking about what might happen to BP after this leak fiasco.
If Obama gives them a big kicking then they go bust. Then a lot of UK pensions wil lose a big chunk of dividends and shares (reported to be £1 in every £7 in these funds. The UK government will lose one of its top tax payers.
A similar scenario wil happen if BP are taken over by an American company, say Exxon.
A massive loss to the UK economy.
Can this happen? Adn what are the effects? Can the UK make this money back anywhere?
If Obama gives them a big kicking then they go bust. Then a lot of UK pensions wil lose a big chunk of dividends and shares (reported to be £1 in every £7 in these funds. The UK government will lose one of its top tax payers.
A similar scenario wil happen if BP are taken over by an American company, say Exxon.
A massive loss to the UK economy.
Can this happen? Adn what are the effects? Can the UK make this money back anywhere?
prand said:
So I was talking about what might happen to BP after this leak fiasco.
If Obama gives them a big kicking then they go bust. Then a lot of UK pensions wil lose a big chunk of dividends and shares (reported to be £1 in every £7 in these funds. The UK government will lose one of its top tax payers.
A similar scenario wil happen if BP are taken over by an American company, say Exxon.
A massive loss to the UK economy.
Can this happen? Adn what are the effects? Can the UK make this money back anywhere?
Famous last words, but I can't see BP going bust. A takeover is highly possible if the price falls enough however.If Obama gives them a big kicking then they go bust. Then a lot of UK pensions wil lose a big chunk of dividends and shares (reported to be £1 in every £7 in these funds. The UK government will lose one of its top tax payers.
A similar scenario wil happen if BP are taken over by an American company, say Exxon.
A massive loss to the UK economy.
Can this happen? Adn what are the effects? Can the UK make this money back anywhere?
As someone else on another thread mentioned, there is a strong sentiment from the other big players that they don't want to be tainted by the issue and therefore would be averse to taking over BP outright.
An asset purchase if Obama were to pull the plug on US oil operations by 'BP' would be more likely I imagine.
An asset purchase if Obama were to pull the plug on US oil operations by 'BP' would be more likely I imagine.
Honestly, you have no idea of scale.
You're talking about a company that has $7 Billion in cash with a yearly EBITDA of $38+ Billion not to mention a total revenue higher then $260B.
Even the most dramatic estimates of cost are only in the low billions with some going into the teens and that is spread out over years.
Even after a massive hit on its stock it has only a 1/3 debt to equity ratio and that should decline as people realize the difference between rhetoric and accounting.
You're talking about a company that has $7 Billion in cash with a yearly EBITDA of $38+ Billion not to mention a total revenue higher then $260B.
Even the most dramatic estimates of cost are only in the low billions with some going into the teens and that is spread out over years.
Even after a massive hit on its stock it has only a 1/3 debt to equity ratio and that should decline as people realize the difference between rhetoric and accounting.
BP is 39% American owned.
As for the fuss that the US is making, imagine if an American oil company had screwed up off the coast of Cornwall, and the fuss the UK media/Government would be making.
It's all posturing, and no more than that. If the worst is the US not understanding British 'figures of speech' and who's paying for it and taking responsibility, rather than focus on the actual mess, it can't be that bad Shirley? It had better not be if the focus is on this b
ks rather than the mess itself.
Obama said that the US is not going to spend a dime on this. Do they really not give a st then?
As for the fuss that the US is making, imagine if an American oil company had screwed up off the coast of Cornwall, and the fuss the UK media/Government would be making.
It's all posturing, and no more than that. If the worst is the US not understanding British 'figures of speech' and who's paying for it and taking responsibility, rather than focus on the actual mess, it can't be that bad Shirley? It had better not be if the focus is on this b
ks rather than the mess itself.Obama said that the US is not going to spend a dime on this. Do they really not give a s
t then?Edited by Balmoral Green on Thursday 10th June 20:45
Jimboka said:
Do regular Americans believe Obama's posturing & showboating, or are they as bored of it as we are?
They are demanding it. If anything the whole reason that Obama is becoming more visible is due to the massive amount of anger over this issue.Obama is just reacting to the public not the other way around.
Balmoral Green said:
BP is 39% American owned.
As for the fuss that the US is making, imagine if an American oil company had screwed up off the coast of Cornwall, and the fuss the UK media/Government would be making.
It's all posturing, and no more than that. If the worst is the US not understanding British 'figures of speech' and who's paying for it and taking responsibility, rather than focus on the actual mess, it can't be that bad Shirley? It had better not be if the focus is on this bks rather than the mess itself.
Obama said that the US is not going to spend a dime on this. Do they really not give a st then?
We already have. That attitude comes from Obama having learned his politics in an inner city ward where entitlement is the only school of thought.As for the fuss that the US is making, imagine if an American oil company had screwed up off the coast of Cornwall, and the fuss the UK media/Government would be making.
It's all posturing, and no more than that. If the worst is the US not understanding British 'figures of speech' and who's paying for it and taking responsibility, rather than focus on the actual mess, it can't be that bad Shirley? It had better not be if the focus is on this b
ks rather than the mess itself.Obama said that the US is not going to spend a dime on this. Do they really not give a s
t then?Edited by Balmoral Green on Thursday 10th June 20:45
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