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Reply #21: From a pure profit point of view, disregarding any outside influence from "morality" [View All]

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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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