Reply #64: BP isn't going anywhere.

[Statistical]

$25 billion a year in cashflow. $60 billion in the bank right now. $250 billion in total assets.

1) I never said they would drop the price $0.20. They don't need to. People will buy BP gas a full price. Still the markup on gasoline is substantially more than $0.20 a gallon. As long as oil remains above $60 a barrel they could substantially drop the price of gasoline and still be cashflow positive. Of course they wont, it would reduce profits and there is no need to. Addicts need their oil.

2) Hypothetically and this is a massive stretch if a boycott was powerful enough BP could simply spin off their retail operation. Seen any Saudi or Canadian gas stations. Both sells tons of oil to refineries which becomes gasoline. Both countries make lots of money on oil without a retail operation. Once again I doubt they will need to but it would be a way to become an "invisible" player.

3) I am no longer a BP shareholder. It was a trade nothing more. I did sell a put option with a $44 strike so I might be a BP shareholder again in the future is some on puts it to me.