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Gold/Mining/Energy : Imperial Metals (IPM.T) -- Ignore unavailable to you. Want to Upgrade?

To: Italian Investor who wrote (475)	6/10/2010 12:24:28 PM
From: refugee investor	Read Replies (1) \| Respond to of 1366

Snippet from Jim Rogers about BP, not very useful "You should become a farmer, you should become a miner, go into the production of real goods," Rogers said. The price of oil is likely to rise further because, following the Gulf of Mexico oil spill, there will be more restrictions on offshore drilling in the US and maybe elsewhere, he said. BP [BP-LN 365.50 -26.05 (-6.65%)] is on Rogers' radar screen but he is not buying it yet and he does not have a price target where it would be a good buy. "I wouldn't judge it on price, I would judge it on time," he said. If there is a slowdown in the US and in the euro zone, it is also going to affect China, he predicted.

To: Italian Investor who wrote (475)	6/11/2010 8:51:05 AM
From: not_prudent	Read Replies (1) \| Respond to of 1366

Looking at it rationally, BP will survive. Assets are likely in the hundreds of $billions maybe even a $T+ when considering that their reserves are likely understated and what the prospects they own or have rights to will be worth when developed. Also it's in the best interest of governments to keep them alive and semi well. Too much money to pensioners and institutions via the divvie and too many jobs at risk. More likely BP will get hit with a GIANT fine that will send a message to the rest of the industry. They will also have to fund for years and years to come a government monitored/supervised jobs program dedicated to restoration/rehabilitation of the GOM. BP will get its nuts cut off, but it could be a lot worse and they can afford it. The blow out in the GOM is now estimated at 40k bopd. At $70 oil, it alone will generate ~ $1B in revenue if that rate is sustained.