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Why Buy BP Gas Now?

Old 05-26-2010, 07:40 PM
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The sad reality is that the government and the oil companies were not prepared at all to handle this type of situation nor were they putting proper safe guards in effect.

The other sad reality is that oil companies will win, period. Oil is the most valuable commodity in the world and as long as the oil companies are private ventures they are going to make extraordinary profits with their oligarchy powers...of course if you socialize the oil companies you would just make the politicians richer and more corrupt!!! It is a lose lose situation and it comes down to just how valuable of a commodity oil is in the world economy today and that won't change with this oil spill unless Americans who consume the most oil in the world change their consumption habits.
Old 05-26-2010, 07:41 PM
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Originally Posted by Joe View Post
If this leak continues and gets into "the loop" and gets to the eastern shore(s)...BP will be bankrupt.
They have a $75 million maximum of responsibility......they made 6 billion last quarter......they will not go bankrupt. They will spend a little more to try to look good but in the end we are fuked. And they will continue to make money.
Old 05-26-2010, 07:42 PM
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Originally Posted by Buttanic View Post
If ignorance and bulls--t could cap a well it would have been done a month ago.
Something BP couldn't do.
Old 05-26-2010, 07:43 PM
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Originally Posted by carbo View Post
They have a $75 million maximum of responsibility......they made 6 billion last quarter......they will not go bankrupt. They will spend a little more to try to look good but in the end we are fuked. And they will continue to make money.

Lawsuits?
Old 05-26-2010, 07:43 PM
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Seabob4, now is a good time for brevity
I am a sox fan, at least since i moved to FL this year I am only missing bad baseball (on either side of town)...how could anyone cheer for a team as pathetic as the Cubs!! Of course if Silva goes 20-0 they have a chance.
Old 05-26-2010, 07:47 PM
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Originally Posted by chiguy79 View Post
Seabob4, now is a good time for brevity
I am a sox fan, at least since i moved to FL this year I am only missing bad baseball (on either side of town)...how could anyone cheer for a team as pathetic as the Cubs!! Of course if Silva goes 20-0 they have a chance.
Born and raised on the southside. Sox are only 6 games out as of now...
Old 05-26-2010, 07:47 PM
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Originally Posted by carbo View Post
They have a $75 million maximum of responsibility......they made 6 billion last quarter......they will not go bankrupt. They will spend a little more to try to look good but in the end we are fuked. And they will continue to make money.
I would think the potential cost of the US Government not allowing them to operate in the US would get them to the table pretty fast (and the government needs to be willing to leverage all potential options), which is why I think bankruptcy is out of the question but there is a lot of equity on the table for the Government to ask for and there is a lot of future profit potential for BP to keep paying the tabs to the Govt for a long time, the question of whether Joe Guy citizen whose life is screwed by this ever sees the money, doubtful.

Also what is the question of "if" it gets in the loop current it is already there and will be at your local beach shortly...
Old 05-26-2010, 07:50 PM
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Originally Posted by seabob4 View Post
Born and raised on the southside. Sox are only 6 games out as of now...
Good deal, I was raised in the south suburbs, before moving to FL I lived on the near north side and pestered cubs fans at the bars daily.

I am hoping the Cubs don't come to spring training in Naples, that would ruin Feb/March for me...it is bad enough when the population of the town triples with geriatrics who can't drive!!!

I am going to Sox vs. Rays on Saturday night at the Trop! Twins losing two to the yanks today (nice!)
Old 05-26-2010, 07:53 PM
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Originally Posted by chiguy79 View Post
Good deal, I was raised in the south suburbs, before moving to FL I lived on the near north side and pestered cubs fans at the bars daily.

I am hoping the Cubs don't come to spring training in Naples, that would ruin Feb/March for me...it is bad enough when the population of the town triples with geriatrics who can't drive!!!
Born in Chicago Heights, raised in Olympia Fields...
Old 05-26-2010, 07:53 PM
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Our wonderful government will try to save face but fact is "we the people" will get the "top shot" up the butt. I would love to think this will all be ok but I think I'm gonna be frying fish in their "own" oil for as long as I live.
Old 05-26-2010, 08:04 PM
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Originally Posted by kerno View Post
T3: I'm delighted to jump into this debate with you. I don't consider it a silly question. However, your request that I answer it is interesting, because you and I are suddenly standing on the opposite side of where we usually find ourselves. I am, by nearly any measure, am a staunch conservative and an industrialist. If I recall correctly, you've typically taken a more liberal line. But, on to the issue at hand:

Here's my take on it: When a corporation has a dominant position in an essentially unregulated industry, they will pass on every cost they can to the consumer. In this case, PB has what might be termed a vertical monopoly on their product. They produce the raw material, process it and distribute it. When you are in that situation and have only a limited number of competitors, there is little or no incentive to sell at cost. Rather, you sell at all the market will bear. As consumers, we have little choice, since we have to buy our fuel from an oil company. Remarkably, the cost of production, refining and distribution in that industry is astoundingly close, since all of the companies selling the identical products are priced within a few percent of each other.

My expectation is that over a 5 year period, BP's net profits will remain the same. The only thing that will change in that time period is the increase in price you and I will pay to cover the cost of mitigation and any taxes associated therewith. If you feel they will be benevolent enough to take the cost out of profits and not pass it on, you have a markedly different perspective of their corporate ethics than I do.

Back to you.
You seem to be forgetting that BP is drilling under a license from the USA (and other countries) and, if they don't fix this shit fast, they are dead meat, both here and elsewhere, and they know it. But that's why I own ETFs and not individual oil companies.
Old 05-26-2010, 08:54 PM
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Originally Posted by kerno View Post
When a corporation has a dominant position in an essentially unregulated industry, they will pass on every cost they can to the consumer. In this case, PB has what might be termed a vertical monopoly on their product. They produce the raw material, process it and distribute it. When you are in that situation and have only a limited number of competitors, there is little or no incentive to sell at cost. Rather, you sell at all the market will bear. As consumers, we have little choice, since we have to buy our fuel from an oil company. Remarkably, the cost of production, refining and distribution in that industry is astoundingly close, since all of the companies selling the identical products are priced within a few percent of each other.
Originally Posted by seabob4 View Post
So Kerno,
As you have stated which is so evidently true, what do we, as consumers, do about the whole mess? Can we do anything? Is the answer voting in new representatives/senators/presidents who seem to behave, more or less, like the ones we just voted out? We don't want government, yet when a situation like this occurs, everyone asks, "Where is the Government?"

You get my drift? As The Who said in "Won't get Fooled Again"..."meet the new boss, same as the old boss"...

And this comes from a liberal...;?
There is only one way. STOP USING GAS! Who want to start sailing and start walking? as of NOW!

Speak now or forever hold your peace!



One last thing. For those of you that are banning BP gas in hope of making a difference. Ignorance is Bliss!
Old 05-26-2010, 09:33 PM
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I am gona have a little faith this time, I am hoping they will stick it to them. This is the first time I have seen the government do things that are unpopular with big business and I as a person can see the direct effect. The banks and credit card companies now send me some notice that that are going to rip me off some more. hah!
Old 05-26-2010, 10:02 PM
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Originally Posted by t3rockhall View Post
You seem to be forgetting that BP is drilling under a license from the USA (and other countries) and, if they don't fix this shit fast, they are dead meat, both here and elsewhere, and they know it. But that's why I own ETFs and not individual oil companies.
I disagree. They may be drilling under license, but they are doing it with people looking the other way. Those same people will continue to look the other way until ethics becomes a part of government. This event is only a speed bump to BP. Their interest is nothing beyond the correct spin and the restoration of image and profits. If it was otherwise, the top shot would have been heavy drilling mud instead of seawater.

Here's the link on the use of seawater instead of drilling mud if you missed it: http://news.yahoo.com/s/ap/20100526/..._oil_spill_719

Bob: I'm not saying "where's the government". They'd only make it worse. The cost of the lost oil and the cleanup is all the incentive BP needs to swing fully into action, so I don't believe they've been lacking in their response. The problem is that they were unprepared for the event and have never faced the problem at this depth. If they had just let the drill platform burn, would it still be afloat and the pipline be intact, or did the millions of gallons of water directed at the fire sink the platform and break the pipe? As a conservative, I want less goveernment, not more.
Old 05-26-2010, 10:36 PM
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Originally Posted by thataway View Post
Let me give you an example of how it works. In our area, all of the gas comes in by barge. There are two terminals--barges bring refined gas to both of the terminals. It is not "branded" until the tanker truck is filled, and the "additatives" which are unique to the specific brand, are added. All of the gas comes from the same barges, the same storage tanks and is from multiple refineries.

As a business it is in BP's best interest to get this oil flow stopped as soon as possible. BP said over 2 weeks ago, that it will not use this well. There is nothing to save here. They will drill another well into this field.

The Problem is that you are working a mile under the sea. The pressure at that depth is 188.6 atmospheres of pressure--or somewhere about 2750 PSI just the pressure of the sea water column--add in the pressure of the oil --you are probably dealing with pressures in the neighborhoon of 10,000 PSI to inject the 2000 gallons "mud" into the well BOP per minute. This has never been done--and there is significant risk that it not only may not work, but could cause further damage.

Yes, the whole thing sucks. But there is a lot of "blame" to go around.... Not buying gas at a BP station will do nothing to resolve the issue. I suspect that the BP stations are already taking a hit and some bad mouthing.

I am as guilty as the next guy for using fuel--but we all use use it. We all have an appetite for gasolilne and diesel--both for out boats and person vehicless. That is why the drilling goes on.
tataway:
I agree in your perception
The whole thing sucks as a human in need of oil
I feel that the whole environment suffers in the usage of fossil fuel
BP did not plan on having this mistake, most oil companies plan on the worst, a tanker spewing on its spoils . but never on the magnitude of a rig in the Gulf spilling as far as the north Atlantic
As a consumer pointing fingers & naming blame dose not solve the problem, we as a human nation should take blame within ourselves as people that drives that commodity


Hay....... SH!t happenz
Old 05-27-2010, 12:39 AM
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Ya know BP was out in the Gulf for only one reason, to feed the oil whores that we
all are. Eleven men died feeding us oil whores. I read this thread and see gas guzzling
pigs of boats in sigs, we run 100 miles out, have 38' quad powered speed machines, and F BP. Want to know who's responible for the mess, go look in the nearest mirror!
Boycott BP, buy your gas some where else, maybe Exxon, but you'll still be on big oils
dick, you can't help it, your a whore.

Bruce
Old 05-27-2010, 01:47 AM
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Originally Posted by seabob4 View Post
Born and raised on the southside. Sox are only 6 games out as of now...

Where? I used to be a doorman at Eric the Reds on 111th

Edit: Nevermind. I see your other post. I grew up in New Lenox then worked as a cop in Arlington Heights for 13 years before coming south.
Old 05-27-2010, 02:07 AM
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I stopped using Exxon after Valdez, and Citgo (including 7-Eleven) after Chavez's slap at us. I now boycott BP as well.

How effective that is can be debated. But I feel better about myself.
Old 05-27-2010, 03:42 AM
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Originally Posted by chiguy79 View Post
If you want to screw BP buy an electric car when they come out (and they will be on the market soon).
Because the electric that powers electric cars is just magic and free...

There is carbon burning somewhere so you can have power for your car.
Old 05-27-2010, 04:05 AM
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Originally Posted by flyau98 View Post
Because the electric that powers electric cars is just magic and free...

There is carbon burning somewhere so you can have power for your car.
I would gather natural gas / nuclear are cleaner safer options in today's market not to mention we can source them domestically and control the supply which we can't do with oil, then there are alternative sources which we really need to move forward on (wind, hydro, solar, etc.).

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