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tclambert Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jun-02-10 06:58 AM
Response to Reply #9
21. From a pure profit point of view, disregarding any outside influence from "morality"
Edited on Wed Jun-02-10 07:01 AM by tclambert
someone buying BP could be a good move. The cleanup effort and the legal fights will cost BP hundreds of millions of dollars, maybe a few billion. But one deep sea oil rig costs billions and they make that back. There are about 3,800 deep sea oil platforms in the Gulf of Mexico (see "oil platform" in wikipedia). Oil companies have been clearing tens of billions in profits. BP can afford to absorb the cleanup and legal costs, spread out over several years, and barely feel it. How much did the Exxon Valdez disaster really hurt Exxon?

Yet BP's stock price has plunged from $60 to $37 and will likely continue to drop for awhile. Somebody could make big bucks here. (Not me. There are limits to what I will do for money. I'd rather invest in drug dealing or prostitution than oil companies.)
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  -STOCK MARKET WATCH, Wednesday June 2 ozymandius  Jun-02-10 05:47 AM   #0 
  - +1 for the Cartoon. n/t  vaberella   Jun-02-10 05:49 AM   #1 
  - Thanks!  ozymandius   Jun-02-10 05:52 AM   #3 
  - another +1 for toon!  DemReadingDU   Jun-02-10 05:56 AM   #5 
     - The toon's not very accurate.  Dr.Phool   Jun-02-10 09:51 AM   #50 
  - I never understood how a birth certificate is a form of identification.  tclambert   Jun-02-10 06:31 AM   #14 
  - Well, I was going to post a reply...  ozymandius   Jun-02-10 06:35 AM   #16 
  - I wonder If I could get Sent Back to the Land of My Birth  Demeter   Jun-02-10 06:59 AM   #22 
     - Planning to vacation in Arizona this year?  ozymandius   Jun-02-10 07:09 AM   #27 
        - Morning Marketeers...  AnneD   Jun-02-10 10:09 AM   #54 
  - Today's Reports  ozymandius   Jun-02-10 05:52 AM   #2 
  - Oil near $72 as economy concerns drag on optimism  ozymandius   Jun-02-10 05:54 AM   #4 
  - Rates mixed at weekly Treasury bill auction  ozymandius   Jun-02-10 05:58 AM   #6 
  - Debt: 05/28/2010 12,992,539,130,957.22 (UP 4,622,348,248.67) (Fri)  Festivito   Jun-02-10 05:59 AM   #7 
  - Debt: 06/01/2010 13,050,826,460,886.97 (UP 58,287,329,929.75) (Tue)  Festivito   Jun-02-10 08:45 PM   #66 
  - World stocks lower amid Europe, US jitters  ozymandius   Jun-02-10 06:02 AM   #8 
  - BP at Risk as Share Plunge Fuels Takeover Speculation  ozymandius   Jun-02-10 06:08 AM   #9 
  - BP Oil Leak May Last Until Christmas in Worst Case Scenario  ozymandius   Jun-02-10 06:16 AM   #10 
  - I just heard a worse case than that on the TeeVee.  tclambert   Jun-02-10 06:38 AM   #17 
  - In which case BP will have destroyed an ocean.  ozymandius   Jun-02-10 06:48 AM   #18 
     - To which Tony Hayward would say:  Loge23   Jun-02-10 07:13 AM   #28 
     - Dead Man Talking  ozymandius   Jun-02-10 07:18 AM   #30 
     - here are some old lyrics from 10,000 maniacs  UpInArms   Jun-02-10 07:22 AM   #33 
     - There was a Sci-Fi Short Story About This  Demeter   Jun-02-10 07:19 AM   #31 
     - Bet that blowout preventer cap for 1/2 mil.....  AnneD   Jun-02-10 11:46 PM   #67 
  - I think It Spells Premature Death for the Obama Administration  Demeter   Jun-02-10 07:02 AM   #24 
     - Interesting piece by Dowd today in the NYT  Loge23   Jun-02-10 07:38 AM   #37 
     - Now THAT'S a Dowd Column Worthy of Newsprint!  Demeter   Jun-02-10 09:52 AM   #51 
     - I saw a bumper sticker today....  AnneD   Jun-02-10 11:50 PM   #68 
  - To create another TBTB?  Po_d Mainiac   Jun-02-10 06:21 AM   #11 
  - Keeping in mind that they are a multinational company -  ozymandius   Jun-02-10 06:27 AM   #13 
     - You misundertook me  Po_d Mainiac   Jun-02-10 07:00 AM   #23 
  - BP: Beyond payment?  ozymandius   Jun-02-10 06:34 AM   #15 
  - Understating the Benefits of Avoiding Low-Probability Disastrous Consequences  ozymandius   Jun-02-10 06:51 AM   #20 
  - No, It's the AE Neumann Economic Philosophy  Demeter   Jun-02-10 07:06 AM   #25 
  - From a pure profit point of view, disregarding any outside influence from "morality"  tclambert   Jun-02-10 06:58 AM   #21 
  - Strong point.  ozymandius   Jun-02-10 07:16 AM   #29 
     - Another Week of this, and the SMW Readership Ought to Be Able to Buy BP  Demeter   Jun-02-10 07:23 AM   #34 
        - BP stock is up about 2.6% today.  tclambert   Jun-02-10 03:03 PM   #60 
        - Did Brit Hume mutter something on the tee-vee?  ozymandius   Jun-02-10 05:38 PM   #65 
        - I found....  AnneD   Jun-03-10 12:00 AM   #69 
           - Only if you REALLY Think It's a Good Price!  Demeter   Jun-03-10 02:21 AM   #70 
              - You're right....  AnneD   Jun-03-10 07:28 AM   #71 
                 - Those crowns are LONG gone!  Demeter   Jun-03-10 10:37 AM   #72 
  - How much worse can it get for BP?  ozymandius   Jun-02-10 07:25 AM   #35 
  - BP Disaster Sinks British Pensions  DemReadingDU   Jun-02-10 07:51 AM   #39 
  - Factbox: Laws that could be used in oil spill prosecution  Po_d Mainiac   Jun-02-10 07:59 AM   #42 
  - My internalized fury over this whole tragedy and the response to it are the main reason...  Hugin   Jun-02-10 07:57 AM   #41 
     - Rage is Inhibiting in the Civilized  Demeter   Jun-02-10 08:14 AM   #43 
        - I agree.  Tansy_Gold   Jun-02-10 09:36 AM   #44 
           - I'm sorry I missed that exchange, Tansy.  ozymandius   Jun-02-10 09:44 AM   #46 
           - It's over in GD, Ozy. The subject line is something about  Tansy_Gold   Jun-02-10 11:20 AM   #58 
              - My condolences to the family  Demeter   Jun-02-10 04:15 PM   #62 
              - I am very sorry, Tansy, for your daughter's hardship.  ozymandius   Jun-02-10 05:35 PM   #64 
           - It's bad.  Dr.Phool   Jun-02-10 09:45 AM   #47 
  - Hedge Funds Post Biggest Monthly Losses Since Lehman Crisis  ozymandius   Jun-02-10 06:23 AM   #12 
  - Financial Regulation: The Devil in the Details  Roland99   Jun-02-10 06:51 AM   #19 
  - Buffett to testify before financial crisis panel  tclambert   Jun-02-10 07:09 AM   #26 
  - I Think Slick Warren Just Got His Foot Stuck in the Door  Demeter   Jun-02-10 07:20 AM   #32 
  - Why is Washington Dithering with Unemployment High?  ozymandius   Jun-02-10 07:33 AM   #36 
  - Because the Fix Is In, and Voters Aren't Necessary Anymore  Demeter   Jun-02-10 09:57 AM   #52 
     - Starting with Nixon  ozymandius   Jun-02-10 11:02 AM   #55 
        - There is if you have enough money  Demeter   Jun-02-10 04:17 PM   #63 
  - Fannie Mae: Serious Delinquencies decline in March  ozymandius   Jun-02-10 07:49 AM   #38 
  - Index Futures: Protecting that 10K  Roland99   Jun-02-10 07:53 AM   #40 
  - I'm glad that I clicked on this post. First I want to say the cartoon at  midnight   Jun-02-10 09:38 AM   #45 
  - Welcome to SMW.  Dr.Phool   Jun-02-10 09:49 AM   #48 
  - Welcome, midnight, to the SMW  ozymandius   Jun-02-10 09:50 AM   #49 
  - Goldman Sachs sold $250 million of BP stock before spill  Demeter   Jun-02-10 10:02 AM   #53 
  - It would be interesting to mesh this with the revelation over the weekend in the NYT...  Hugin   Jun-02-10 11:10 AM   #56 
  - Well, they are ONLY human.  ozymandius   Jun-02-10 11:18 AM   # 
  - oops  ozymandius   Jun-02-10 11:18 AM   #57 
  - K&R  DoBotherMe   Jun-02-10 02:50 PM   #59 
  - Sinkhole in Guatemala: Giant Could Get Even Bigger  tclambert   Jun-02-10 03:19 PM   #61 

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