BP - BP PLC (NYSE) - Page 3

You think the clean up is gonna cost >$36B in market cap? LOL

Be greedy when others are fearful.

I wouldn't be surprised if BP drops below $50. Even though as mentioned that represents more than a $30B drop in market cap. And by no means do I think the clean-up is going to cost anywhere near that (not even half that - face it you could scrub alot of rocks for $15B); however, they still have no solution on how to stop the leak and until they solve that 'minor' issue there is going to be more selling than buying.

Once they announce leak has been stopped; sp will spike but last I heard it could take months to stop the leak at which time it will be the biggest oil spill ever.

It hit $35 back in March when everything went down

Here is one of my new videos, bp as an example

Nice video...little drawn out though, but good info.
Did you actually make that trade?

Thanks. And no, but I made a similar options trade on goldman sachs though, I wasn't watching the market when this relief rally occurred on BP.

Honestly I wouldn't be surprised if it did. I think 36B is WAY under what its going to cost.

The scale of this oil spill is massive and its going to have a negative impact on any offshore drilling (as it should) for the forseeable future.

We need to get off our addiction to oil and its going to happen one way or the other.

This spill is terrible news not just for BP but the oil industry. Remember obama was loosening up his policy on off shore drilling. This is going to have political effects which are more notable than a balance sheet IMO. This is a BIG OIL SPILL. We'll be hearing about it for the next week, aren't they trying to burn it up now? I can't imagine the effects this will really have on the coastline industries. Poor people, seriously. Its prime harvesting season, they should take some of their savings and invest on shorting their own disaster

its being called obama katrina because he did nothing to act.

The spill is the size of Puerto Rico.. it will cost BILLIONS even if it doesnt touch land.



The scale and carnage of BP's recent oil spill disaster continues to grow on a daily basis. The Wall Street Journal, citing industry experts, on Friday estimated the size of the continuing oil leak at 25,000 barrels a day (up from the U.S. government's Thursday estimate of 5,000 barrels a day). BP shares have fallen 12% since the disaster.

The accident has forced President Barack Obama to put on hold politically sensitive plans to expand offshore U.S. oil drilling. In March, President Obama unveiled plans for a limited expansion, in part to try to win Republican support for climate change legislation. The White House announced Saturday morning the President will travel to the gulf coast today to get an update on efforts to contain the massive spill.

Yesterday news reports that several banks (including Goldman Sachs, GS and Citigroup, C), recommended buying BP shares. They argue investors are over reacting since the April 20 explosion.

Yesterday oil giant BP (BP) released news that it has tested the dispersants (manufactured by Nalco Holding Co. (HAL)), on Friday night and authorized it's use on a larger scale. BP also added, it is looking for additional suppliers to begin manufacturing the material in mass quantities.

Investors should note that shares of companies that provided services or operated the sunken Deepwater Horizon drilling rig, including Halliburton (HAL) fell sharply as worries deepened about liability from spill.

Oil Prices Expectations in 2010 and 2011

Barclays recently stated oil prices are likely to stay in the range of $80-$90, while other Barclays' analysts state, "If Asian demand can grow at such rapid rates when prices are in the $70 to $80 range, then prices cannot stay in that range for much longer".

Considering the Joint Oil Data Initiative (JODI) is quoted as saying Asian demand for oil will increase by more than 2 million barrels per day, what is the logical conclusion? What most people don't realize is the depth of industries and products that rely on oil and gas.

Oil is involved in nearly every aspect of manufacturing - from the production of chemicals, plastics and detergents to medicines, building materials and even clothing. Petroleum-based products make up a significant portion of the materials Americans use every day.

this thing is going down down down......

I was curious what happened to Exxon's stock price after the Exxon Valdez spill but it was over 20 years ago and I'm not seeing any noticeable dip in their stock price based on the charts I can find. But then Exxon was only trading at $11 per share.

That's also very small in comparison

So after weekend of no changes and a whole lot of "UUmmm we are working on it trying to get it stopped, but it could be weeks" and "BP takes responsibility for the clean up" and blah blah blah people are going to look at this and say "Wow what a great stock...What a time to buy!!!!"

"I don't think so Tim"

I hear that but I don't think investors are fearful enough yet.

If we weren't crazy we would stop all oil drilling in US costal waters and land. We should burn up every drop of oil in the middle east, north sea, canada etc before we use our own. Oil be needed for 10,000 years for chemicals, plastics, fertilizer, drugs. We should keep every drop we have under the US. Why would I drink all the beer in my refer when I can go over to my friends house and drink his beer cheap.

lol I love the beer analogy Will

Typical American lol

Good catch on GS....

bad situation...slow response from the Administration, and it's getting worse.