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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: microhoogle! who wrote (133537)	6/2/2010 11:50:01 AM
From: ChanceIs	Read Replies (4) of 206167

>>>If it is cheap right now, BP could and will most likely get even more cheaper in the coming year<<< Some blog (ZeroHedge?) reported today that British pensions are devastated by the 33% drop in BP since the crisis began. The Brits hold a lot of BP for their retirees. A question naturally arises whether or not they will all bolt while there is still some room in the exit door. You also have to figure that it will be tough for BP to refinance anything - at least at reasonable rates. I am not too much into socialism - loss sharing - but this crisis will clearly have international consequences. While it doesn't cost too much to throw BP execs in jail, continued uncertainty about BP's exposure will have a lot of unintended consequences. Sooooooo maybe the US in the next two weeks should present BP a bill for a bi$$ion or two and say that is it. This is the settlement. If it costs less, the US wins. If it costs more than the US looses. Stated differently, the US stepped in to stop a run on the banks post Lehman. Would it be prudent to stop a run on BP given its shaky position and the immediate consequences for all aspects of British life? The UK is already in terrible shape. Probably an overstatement, but history tells us that clawing war reparations out of Germany post WWI was counterproductive. Who knows. Maybe BP will stop paying its execs hundreds of millions now and for years to come. Having been roasted for criticizing Obama previously I will go ahead and suggestd that this is the type of leadership he might show. I don't fault him for the spill having happened. I do fault him for the finger pointing - at least for the executive branch. Pelosi is off in her own little finger pointing world. The only cogent argument I have heard for kicking BP out comes from Simmons who suggested that BP isn't listening to their contractors' suggestions. That may be true. However the government or military doesn't have BP's expertise to fix the problem. I think that Obama is doing all he can at this juncture to stop the leak. He may not be running his public relations machine very well, but that doesn't concern me. PR doesn't stop oil leaks. The F'ing oil boom lady probably has a point that BP isn't deploying the booms correctly, and by default the Coast Guard who is overseeing that bears some blame for a poor mitigation or cleanup effort. If true, Obama could fix that with a couple of strategic personnel changes.

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