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Thu Jan 31, 2013, 11:10 PM

Former BP Trader Sues Firm, Alleges Market Manipulation.

Source: nyt/reuters

A former trader at BP has filed a lawsuit for breach of contract in which he alleges the British company's Houston-based unit, BP Energy Co, is attempting to manipulate the U.S. natural gas liquids market.

Drew Sickinger, who joined BP in Houston in 2009, said the company "created a pretext" for disciplining him late last year and then firing him earlier this month. He said he made $100 million (63 million pounds) for the company over the previous three years.

The complaint, filed January 30 in Harris County, Texas, includes allegations by Sickinger that BP is trying to manipulate the natural gas liquids markets "by establishing a dominant and controlling position."

The lawsuit does not include facts describing the basis for those claims. Sickinger's lawyer, Raul Loya, said the allegations against BP could spur a government investigation, but he declined to offer further detail.



Read more: http://www.nytimes.com/reuters/2013/01/31/business/31reuters-bp-propane-lawsuit.html?hp

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Reply Former BP Trader Sues Firm, Alleges Market Manipulation. (Original post)
elleng Jan 2013 OP
iandhr Jan 2013 #1
freshwest Feb 2013 #2
Mnemosyne Feb 2013 #3
Dustlawyer Feb 2013 #4
JackRiddler Feb 2013 #5
JustABozoOnThisBus Feb 2013 #6
Nihil Feb 2013 #7

Response to elleng (Original post)

Thu Jan 31, 2013, 11:22 PM

1. I AM SHOCKED SHOCKED to find that gambling is going on here.

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Response to elleng (Original post)

Fri Feb 1, 2013, 12:16 AM

2. After so much de-regulation, is it even illegal to do that? They steal with both fists all the time.

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Response to elleng (Original post)

Fri Feb 1, 2013, 12:59 AM

3. Why can't I feel shocked anymore over these criminals?

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Response to elleng (Original post)

Fri Feb 1, 2013, 09:11 AM

4. BP acts with impunity breaking whatever laws it chooses b/c they own our Congressmen.

They have lied about the oil spill from day 1 (April 20, 2010) to present. Do not believe their propaganda about the Gulf. Most of the crabs, fish and oysters are dead or dying. There are no white gulf shrimp left. They killed much of the sea life with Corexit, which was used to sink the oil so it was out of sight and could not be recovered and thus, fined by the barrel. They had the Coast Guard to help.

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Response to elleng (Original post)

Fri Feb 1, 2013, 10:33 AM

5. Never forget that this company...

should not even exist anymore. They should have been seized by the government immediately after they caused the Gulf of Mexico extinction event. Instead they paid a fraction of profits and get to promote a big lie and tout themselves every day on the TV as some kind of saviors of the local economy.

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Response to elleng (Original post)

Fri Feb 1, 2013, 11:07 AM

6. When he joined BP in 2009 ...

what did he think he was joining? The Peace Corps?

I'm sure he didn't mind BP's "ethics" while the commissions were rolling in.

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Response to JustABozoOnThisBus (Reply #6)

Fri Feb 1, 2013, 11:56 AM

7. Exactly ...

We're supposed to believe that the capitalist gambler who worked happily for them
(doing exactly the same thing for a couple of years) suddenly developed some kind
of "moral spine" at the end of last year?

If he hadn't been "set up" (as he claims), who thinks he'd be anywhere other than
with his nose still in the trough, exploiting other people for his own greed, same as
he always did?

Anyone who joins any of those companies (BP, Shell, Exxon, Texaco, Chevron, ...)
and only pretends to acquire a moral compass after they've been kicked out is
a hypocrit.

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