AK Rifles banner
1 - 20 of 24 Posts

· Premium Member
Joined
·
4,327 Posts
Discussion Starter · #1 ·
just heard from judge napolitano that bp's total payout will be capped at around $1.75bn....

"In 2009, a bad year for the company, it had revenue of $239.8 billion and had a net profit of $16.5 billion. “BP in terms of its balance sheet is fairly... ."

the damages could go well into the dozens of billions if oil/contamination persists for years, plus the loss of tourism due just to the perception of dirty waters....

when you get into an auto accident and kill 2 people, you're not capped. you get to lose everything that is'nt nailed down in your life and then some.

when bp kills 11 people and destroys an entire region, well, they pay max about 10% of their income in a BAD YEAR....

welcome to the plantation....in case you didn't already know

if you're on the gulf coast, i feel sorry for you i really do....
 

· Premium Member
Joined
·
4,327 Posts
Discussion Starter · #4 ·
i would agree they should not change the law retroactively even tho it would creat the right result....it would be awful to set yet another bad precedent, even if the result is good....bp goes out of business according to basic negligence/tort law if that's what the law calls for and that's what it takes to compensate people.....
 

· Super Moderator
Joined
·
26,840 Posts
Dig real deep for the coin folks, because guess who is going to foot the bill...thats right, the taxpayers.

Do a little digging and research on own, and you will see when the bill was written, and even who approved it in Congress.

Looks like old BP is going to be to big to fail, and because of their lack of vision, and trying to save a buck or two, all of us are now on the hook for the clean up cost...thanks Congress! :roll:
If anyone believes there is ANY intelligent life in Washington for the past twenty years, your fooling yourself.
Its time to fire them all...every last one of them.
 

· Super Moderator
Joined
·
26,840 Posts
Sidecarnutz said:
Remember that BP made huge donations to Obama's election.
It'll be interesting to see what kind of "insurance" that bought for them.
Large oil companies like BP grease the wheels of every single administration regardless of party.
It buys them a free ride, and we will pay for it in the end...just watch it happen.
Washington will make alot of noise, and flap their arms about as the run in circles toi show everyone that they are "doing something", but that will be as far as it goes.
 

· Registered
Joined
·
742 Posts
I try not to voice my political views on the board but what we are witnessing is the beginnings of government controlled oil production in the United States. Not just more regulations but the complete take over of the industry.

sKott
 

· Banned
Joined
·
2,405 Posts
Robpiat said:
BP will just pass the cost onto the customer.....They are not going to fail over this.
That is what I tell people. Seems many people are happy about higher fines, fees and taxes on "Big Bad Oil" or and "Big (fill in the blank) Company". They don't know how to connect the dots. The facts are these costs are passed along to the end user in the form of higher prices - so these people who support higher fines, fees and taxes on business really support higher costs (or fines, fees and higher taxes) on themselves. Most Americans are not intelligent enough to grasp the concept and that is why politicians latch onto this ploy for "class warfare" votes. What was it that "The Queen of Mean" Leona Hemsley said? "Only the little people pay taxes". :roll:
 

· Registered
Joined
·
1,871 Posts
just plain out sad what the general public and the uninformed masses are doing to this country. they just watch the politics in washigton say there doing so much and put on a smile thinking everythings goin to be alright. bp has just made a hell of a mess that they and washington wants us to pay for, capping it is not the answer at all and its infuriating that someone would think of even doing such a thing :evil:
 

· Premium Member
Joined
·
4,327 Posts
Discussion Starter · #14 ·
stackscustominc said:
just plain out sad what the general public and the uninformed masses are doing to this country. they just watch the politics in washigton say there doing so much and put on a smile thinking everythings goin to be alright. bp has just made a hell of a mess that they and washington wants us to pay for, capping it is not the answer at all and its infuriating that someone would think of even doing such a thing :evil:
dont know what law caps their damages, but i assume the law was put into place long before this spill.....

you're right tho, the people ruining this country are of course, the corporate/fascist scum....that's for granted....but the drooling mouth breathers who don't know anything or care about anything or care to know about anything, are the ones who really enable all this....
 

· Registered
Joined
·
1,871 Posts
mike_r123 said:
stackscustominc said:
just plain out sad what the general public and the uninformed masses are doing to this country. they just watch the politics in washigton say there doing so much and put on a smile thinking everythings goin to be alright. bp has just made a hell of a mess that they and washington wants us to pay for, capping it is not the answer at all and its infuriating that someone would think of even doing such a thing :evil:
dont know what law caps their damages, but i assume the law was put into place long before this spill.....

you're right tho, the people ruining this country are of course, the corporate/fascist scum....that's for granted....but the drooling mouth breathers who don't know anything or care about anything or care to know about anything, are the ones who really enable all this....
couldnt agree with you more and even though im part of this new generation of youngsters out there really really i fear for what this countrys goin to become, havent seen a single one that thinks bp should take responsibility for the vast enviornmentat and financial damages theyve created
 

· Registered
Joined
·
2,091 Posts
stackscustominc said:
havent seen a single one that thinks bp should take responsibility for the vast enviornmentat and financial damages theyve created
Uh, I have seen the opposite from that age group (dare I say mine?)... Everyone I see puts this on BPs shoulders and wants them held accountable for it, and to pay to fix it. And if you casually ask "why" they say because they have less faith in the government!

I think BP really does want to close this well themselves, meanwhile every swinging dick in Washington wants to be the one to take it from them so they can get credit for "fixing" it.

And the BP stations here are like ghost towns.
 

· Registered
Joined
·
1,871 Posts
dead_eye said:
stackscustominc said:
havent seen a single one that thinks bp should take responsibility for the vast enviornmentat and financial damages theyve created
Uh, I have seen the opposite from that age group (dare I say mine?)... Everyone I see puts this on BPs shoulders and wants them held accountable for it, and to pay to fix it. And if you casually ask "why" they say because they have less faith in the government!

I think BP really does want to close this well themselves, meanwhile every swinging dick in Washington wants to be the one to take it from them so they can get credit for "fixing" it.

And the BP stations here are like ghost towns.
i find that very odd givin the mindset of how the kids are around here, but it could be just an issue of where each of us are in the country and the mindset of the people
 

· Super Moderator
Joined
·
26,840 Posts
Black Blade said:
Robpiat said:
BP will just pass the cost onto the customer.....They are not going to fail over this.
That is what I tell people. Seems many people are happy about higher fines, fees and taxes on "Big Bad Oil" or and "Big (fill in the blank) Company". They don't know how to connect the dots. The facts are these costs are passed along to the end user in the form of higher prices - so these people who support higher fines, fees and taxes on business really support higher costs (or fines, fees and higher taxes) on themselves. Most Americans are not intelligent enough to grasp the concept and that is why politicians latch onto this ploy for "class warfare" votes. What was it that "The Queen of Mean" Leona Hemsley said? "Only the little people pay taxes". :roll:

Unfortunatly, most people in the US do not believe or understand that it is corporations that not only control the US, but the world in general.
Do NOT go crying about how "big" fill in the blank company is getting ass raped by the evil Congress. This is what the talking heads are telling you to think, and you seem to be repeating what your listening to instead of doing a little free thinking.
Oil companies for the last few years have had insane over the top profits, look it up yourself. Big companies like BP hedge their bets by buying our "representatives" in Washington from both parties.
Its simple greed, nothing more. And we are going to be stuck paying this bill for the cleanup.
Did you happen to watch the uncut version on Youtube of all three companies "testifing" before Congress? It was a finger pointing game, with everyone shirking their responsibility.

This is one of the many reasons why I no longer to listen to MSN. You no longer get the facts, you get Koolaid with just enough truth slanted one way or another depending on who you are listening to.
Most people have been so brainwashed by this puppet show, that they can no loger tell the difference between the truth and spin.
 

· Banned
Joined
·
2,405 Posts
mike_r123 said:
just heard from judge napolitano that bp's total payout will be capped at around $1.75bn....

"In 2009, a bad year for the company, it had revenue of $239.8 billion and had a net profit of $16.5 billion. “BP in terms of its balance sheet is fairly... ."

the damages could go well into the dozens of billions if oil/contamination persists for years, plus the loss of tourism due just to the perception of dirty waters....

when you get into an auto accident and kill 2 people, you're not capped. you get to lose everything that is'nt nailed down in your life and then some.

when bp kills 11 people and destroys an entire region, well, they pay max about 10% of their income in a BAD YEAR....

welcome to the plantation....in case you didn't already know

if you're on the gulf coast, i feel sorry for you i really do....
Federal law may limit BP liability in oil spill

BP's liability for lost wages, other damages may be limited by a federal law

Erica Werner, Associated Press Writer, On Monday May 3, 2010, 7:50 pm EDT

WASHINGTON (AP) -- A federal law may limit how much BP has to pay for damages such as lost wages and economic suffering in the Gulf Coast oil spill, despite President Barack Obama's assurances that taxpayers will not be on the hook.

A law passed in response to the 1989 Exxon Valdez spill in Alaska makes BP responsible for cleanup costs. But the law sets a $75 million limit on other kinds of damages.

Economic losses to the Gulf Coast are likely to exceed that. In response, several Democratic senators introduced legislation Monday to raise the liability limit to $10 billion, though it was not clear that it could be made to apply retroactively.

Continues: http://peakoilpetroleumandpreciousmetal ... eply-19330

Black Blade: Those of us in the O&G business have always criticzed BP for cutting corners and this is largely due to a corporate culture that permiates through the management of BP. Finally after a history of negligence on the Alyeska Pipeline and numerous oil spills, the Texas City Refinery explosion, and now Deepwater Horizon the regulators are finally waking up to the problems at BP (albeit too late).

Of course there are also other reasons such as land and lease access issues largely based on opposition to "shallow water" drilling and Federal land access in the western states. All which force energy companies into deeper water and more challenging environments where cutting edge technologies are used. We might be venturing into areas we are not quite ready to exploit based on our tech limitations.

I have a stack of Appliction for Permit to Drill (APD) that I am sitting on since the Obamalypse. I can't get the rigs into the field thanks to the changing political winds and pretty much had to shut my doors, sell the rigs at auction and layoff nearly 50 drillers and rig hands. We can't drill where people can see us so we as an inductry are forced to drill in crazy places, in crazy environments under crazy conditions - and people wonder why there are accidents? People should think about thise everytime they fill their gas tanks and pay their utility bills.

I'm just a small fish in a big pond in this business - here are a few pictures of my guys and what we used to do in the Powder River Basin drilling Coalbed methane until the day after the elections when everything came to a screeching halt (yeah, on November 5th, 2008):

http://peakoilpetroleumandpreciousmetal ... topic/4200



(Sorry for the rant but I am effectively out of business along with a few thousand other western O&G workers)
 

· Registered
Joined
·
4,548 Posts
Black Blade said:
Robpiat said:
BP will just pass the cost onto the customer.....They are not going to fail over this.
That is what I tell people. Seems many people are happy about higher fines, fees and taxes on "Big Bad Oil" or and "Big (fill in the blank) Company". They don't know how to connect the dots. The facts are these costs are passed along to the end user in the form of higher prices - so these people who support higher fines, fees and taxes on business really support higher costs (or fines, fees and higher taxes) on themselves. Most Americans are not intelligent enough to grasp the concept and that is why politicians latch onto this ploy for "class warfare" votes. What was it that "The Queen of Mean" Leona Hemsley said? "Only the little people pay taxes". :roll:
Sad but true
 
1 - 20 of 24 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top