Reply #28: There are major differences between Exxon's disaster of 89 and BP's catastrophe of 2010.

[Uncle Joe]

Direct population density affected by this calamity is vastly superior in number to that of a remote section of Alaska, this will be visible and damaging to tens if not hundreds of millions of people.

Alaska didn't have to worry about hurricanes bringing this hundreds of miles inland.

As tragic as the Exxon Valdez spill was, this gusher is an open ongoing wound approximately a mile below the surface, not nearly so limited in scope and infinitely more difficult to stop.

Global warming climate change is much deeper ingrained in the public consciousness than it was in 1989 and as a result BP faces additional economic pressures from the switchover to electric or hybrid vehicles.

There is some testimonial evidence BP's rep; overrode or pressured Transocean in regards to this operation and he wasn't a drunk loose cannon, this ill advised risk was taken with sober premeditation.

With all of the above I see BP at both greater legal risk and economic pressure than Exxon was in 1989.

Having said all that I believe even a 5% drop will be damaging to corporate BP.