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Thread: BP takeover fears as shares plunge

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    BP takeover fears as shares plunge



    Things are not looking good for BP at the moment. Even the best case scenario for them means losing billions on top of what they've already lost.

    Frankly I do agree with the idea to nationalize BP's US assets to repay the damage done.
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    Re: BP takeover fears as shares plunge

    Quote Originally Posted by Hoplite View Post


    Things are not looking good for BP at the moment. Even the best case scenario for them means losing billions on top of what they've already lost.

    Frankly I do agree with the idea to nationalize BP's US assets to repay the damage done.
    Nationalization means the Government has to recompense BP for appropriating BP assets in the US.

    I doubt that that task will be as easy as was the theft of GM by Obama.

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    Re: BP takeover fears as shares plunge

    Nationalizing implies that the govt would run it, which seems pointless and prob'ly counter productive.

    Put them on the hook to foot the bill.
    If they can't pay, handle it that way. Seize and sell assets to satisfy the debt.
    I may be wrong.

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    Re: BP takeover fears as shares plunge

    Quote Originally Posted by Hoplite View Post


    Things are not looking good for BP at the moment. Even the best case scenario for them means losing billions on top of what they've already lost.

    Frankly I do agree with the idea to nationalize BP's US assets to repay the damage done.
    I would rather see them remain intact and generating revenue. If BP is nationalized and those assets are depleted, guess who foots the bill then. Not to mention the effect it would have on the economy for the government to over-excercise it's power to nationalize a company that big.
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    Re: BP takeover fears as shares plunge

    Quote Originally Posted by Simon W. Moon View Post
    Nationalizing implies that the govt would run it, which seems pointless and prob'ly counter productive.

    Put them on the hook to foot the bill.
    If they can't pay, handle it that way. Seize and sell assets to satisfy the debt.
    I sincerely doubt that they will go that way because the ongoing cost of cleaning up the Gulf and the polluted shoreline will likely be of greater value than siezure and sale of BP assets within the US. A continuing leak of this size meaans that there will likely be no bottom vegetation for around 7 to 10 years, it also means that oil will contue to spoil US beaches for many years, I am not entirely sure how long before sea creatures will begin to once again populate the waters but certainly it will not be for a number of years.
    BP will have to dig deep to find the money to continue remedial efforts, it will not be for a year or two, more likely anything up to around 12 to 20 years.

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    Re: BP takeover fears as shares plunge

    Quote Originally Posted by jujuman13 View Post
    I sincerely doubt that they will go that way because the ongoing cost of cleaning up the Gulf and the polluted shoreline will likely be of greater value than siezure and sale of BP assets within the US. A continuing leak of this size meaans that there will likely be no bottom vegetation for around 7 to 10 years, it also means that oil will contue to spoil US beaches for many years, I am not entirely sure how long before sea creatures will begin to once again populate the waters but certainly it will not be for a number of years.
    BP will have to dig deep to find the money to continue remedial efforts, it will not be for a year or two, more likely anything up to around 12 to 20 years.
    Dont worry, as long as Exxon has not paid in full for what it did with Valdez, then BP wont either. Plus no one has that much money to buy BP and good luck getting credit for it.
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    Re: BP takeover fears as shares plunge

    Quote Originally Posted by Hoplite View Post


    Things are not looking good for BP at the moment. Even the best case scenario for them means losing billions on top of what they've already lost.

    Frankly I do agree with the idea to nationalize BP's US assets to repay the damage done.
    Why, because you like the government owning everything?
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    Re: BP takeover fears as shares plunge

    Quote Originally Posted by American View Post
    Why, because you like the government owning everything?
    Because I think nationalization of key industries is a cornerstone of economic stability
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    Re: BP takeover fears as shares plunge

    BP's market cap is $115b, even after its most recent slump.

    The Ixtoc I oil spill, which was something like 2X as large, had a total cleanup cost of approx $1b back in 1979.
    Exxon Valdez, which was maybe half the size of this one, had a total cleanup cost of approx $3.8b.

    I can't see a scenario in which BP is unable to cover the costs of this cleanup with plenty to spare.
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    Re: BP takeover fears as shares plunge

    The "theft of GM"? I thought people wanted it to die and the government just to get out of the way? What you people come up with next? Please make up your mind and be consistent.

    BTW. When GM goes public later this year or early next, the will probably make the government's investment in GM one of the most profitable uses of taxpayer funds since the RTC, the 1980 bailout of Chrysler or the 1971 bailout of Lockheed. BTW, for the record, the Bush Administration executed a major bailout of the airline industry in the early 2000's. I do not remember much cry about socialism then.

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