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Politics : President Barack Obama
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To: Jim McMannis who wrote (78016)6/11/2010 11:20:41 AM
From: tejek  Read Replies (1) of 149317
 
Comments from a long term trader of oil futures:

BP - Alan/Gary

6/11/2010 6:14 AM EDT

BP - go to zero? No - they have too many resources and will break-up/get bought-up long before then. Pensioners? they're toast, will not matter a whit in the coming vulture fight to eat every piece of this company and pick over the remains
And why should anyone protect BP based on a backhanded argument of silver-haired ladies from Colchester? an unfathomable Fifty THOUSAND barrels of oil A DAY of filth is spewing out of their pipe in the sea floor

I said on CNBC yesterday that BP alone now will represent everything that's wrong with American energy policy: profligate fuel use, regulatory laxity, failures at Kyoto and Stockholm, ancient refining infrastructures, 110 pound housewives driving Hummers and Denalis, slow motion toward Nat gas and alternative incentives --- EVERYTHING

No company can survive that -- I don't care how much money they make. Hell, they've poisoned the Gulf of Mexico -- no company SHOULD be able to survive that.

I've never in my life felt this level of sadness and outrage. Having been in the oil business, even if only on the financial end, I still feel connected in a small way. And I'm mad. I've got my pitchfork and torch at the ready, too.....
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