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The New DU. Reply #81: No BP won't fail.
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Fri May-21-10 08:36 AM
Response to Reply #80 |
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Same reason Exxon, Chevron, Hess, Shell haven't failed.
Addicts need their oil and BP has oil they need. Addicts will continue to pay hand over first for black gold.
Even if Americans cared (which they don't) oil is sold on the global market. You honestly think China will have any reservations with meeting their energy needs by using BP oil? Really?
BP won't fail. BP stock may continue to decline. BP may be unprofitable for a couple years. BP may ending paying the largest settlement in global history (current record right now is tobacco master settlement @ $208 billion). BP isn't going to fail.
Not as long as the world is addicted to oil. If BP made a luxury or a trivial product then maybe.
You are just replacing your wish (BP fails) with the global reality (the world is HIGHLY addicted to oil).
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