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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Snowshoe who wrote (73882)8/2/2010 9:06:07 PM
From: Maurice Winn2 Recommendations  Read Replies (2) of 74559
 
I told you so. It is now clear that the claims that the runaway well was a calamitous catastrophe were overwrought, as was obvious from day one as a casual inspection of the location of the well, the prevailing winds, the prevailing ocean currents and the climatic conditions in the area even though the precise quantity of oil flowing out was unknown.

With the huge effort by BP at great expense [at enormous profit to all those who got a piece of the action including the tax authorities from the income] the whole thing turned into a fizzer.

There has already been a net gain to the USA from the accident in that BP shareholders [most of whom are not USA citizens are transferring $billions to the region. True, my analysis is approximate, but the loss by those non-USA shareholders has been huge in absolute terms [umpty$billions in cash payouts] and proportionate terms [% of their market capitalisation]

Mqurice
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