ST's BP Rantings

[California Girl]

Please tell us in particular which pension plans will be ruined.

The pension plans that hold investments in BP.

So any pension plan that holds investments in BP will be "ruined" if BP goes bankrupt?

Do any of these plans have actual names or do they just exist in your head?

Millions of Americans hold BP stock without even knowing it.

According to you - millions of Americans hold so much BP stock their entire pension plans would be "ruined" if BP went under. I find it odd that millions upon millions of Americans have so much money invested in BP it would ruin them.

I already put up a list of these major stockholders in BP - including US Pension Funds. Moron.

So you're telling me that any pension fund which holds BP has so much of it they would be ruined if BP failed? Is that a rule or something? Did you just make that up?


I asked you to tell me which funds would be ruined by a BP failure. You respond by simply pointing out that some funds own BP. Big deal? Most funds are diversified enough the failure of a single stock won't ruin them. Yet you maintain that BP failing will RUIN people's pension plans. So whenever you're ready - fill in the blanks.

Examples:

BP's largest institutional holder, WELLINGTON MANAGEMENT COMPANY, LLP, holds 2 billion worth of BP. They also hold 446 billion worth of stuff that isn't BP.

The largest fund holder, Vanguard/Windsor III, holds 500 million of BP and 33 billion that isn't BP.



What funds or institutions in PARTICULAR would be RUINED by a BP failure?

I have already spoon fed you a list of their major shareholders, including US pension and insurance funds. 'Ruined'.... severely damaged.... whatever..... it will not be helpful for those innocent Americans for the US government to destroy BP.

Personally, I still fail to see exactly why so many of you want to destroy the company. They fucked up, they are trying to put it right. So far, they have not tried to wiggle out of picking up the bills for this.

In fact, I find it rather interesting that so many of you ignore the culpability of US owned companies and, because the media tells you to, you focus on the foreign company.

So far, the only company who has tried to limit its liability is not BP, or the evil Halliburton... it is TransOcean. Hmmmm. Go figure.

 

[PatekPhilippe]

KA BOOOOOOM!!!!!!!! I told you Tuba...the government will bear some responsibility for this spill and place it on the tax payer.

On the Deepwater Horizon, for example, the minerals agency approved a drilling plan for BP that cited the “worst case” for a blowout as one that might produce 250,000 barrels of oil per day, federal records show. But the agency did not require the rig to create a response plan for such a situation.

NYT: Who was in charge of rig? It's unclear - The New York Times- msnbc.com

 

[SpidermanTuba]

I have already spoon fed you a list of their major shareholders, including US pension and insurance funds. 'Ruined'.... severely damaged.... whatever..... it will not be helpful for those innocent Americans for the US government to destroy BP.

Sorry, but no goal post moving is allowed. You said that a BP failure would results in millions of Americans having their pensions ruined. Please either justify this absurd statement or admit you were wrong.

So far, they have not tried to wiggle out of picking up the bills for this.

Yes they have.

So far, the only company who has tried to limit its liability is not BP, or the evil Halliburton... it is TransOcean. Hmmmm. Go figure.

What the fuck are you even talking about? BP is trying to get the case moved to an oil friendly court in Houston and was caught trying to trick Forest Gump into signing away his rights to sue, do you follow the news at all or do you just flap your mouth?

 

[SpidermanTuba]

KA BOOOOOOM!!!!!!!! I told you Tuba...the government will bear some responsibility for this spill and place it on the tax payer.

On the Deepwater Horizon, for example, the minerals agency approved a drilling plan for BP that cited the “worst case” for a blowout as one that might produce 250,000 barrels of oil per day, federal records show. But the agency did not require the rig to create a response plan for such a situation.

NYT: Who was in charge of rig? It's unclear - The New York Times- msnbc.com

Why? BP is a private company, they aren't owned in any part by the government. They are 100% responsible for their actions.

Or does that only count when they're making profit?

 

[PatekPhilippe]

Questions of oversight also came up in the New Orleans hearings last month. For example, Michael J. Saucier, an official with the Minerals Management Service, said that his agency “highly encouraged” — but did not require — companies to have backup systems to trigger blowout preventers in case of an emergency.

“Highly encourage?” Captain Nguyen of the Coast Guard asked. “How does that translate to enforcement?”

“There is no enforcement,” Mr. Saucier answered.

Hmmmmmmmmm.

 

[SpidermanTuba]

Questions of oversight also came up in the New Orleans hearings last month. For example, Michael J. Saucier, an official with the Minerals Management Service, said that his agency “highly encouraged” — but did not require — companies to have backup systems to trigger blowout preventers in case of an emergency.

“Highly encourage?” Captain Nguyen of the Coast Guard asked. “How does that translate to enforcement?”

“There is no enforcement,” Mr. Saucier answered.

Hmmmmmmmmm.

Sorry, but the right has spent decades tearing down regulation, none of you have the moral standing to complain one bit about it. For decades all we on the left have heard is "let the free market solve it all!" - but when the free market fails to solve it all, you're quick to blame government for failing to watch after BP as if it were a 2 year old

 

[California Girl]

didn't bp save $500,000 dollars by not using the newest safety measure out there for deep water holes and if they had, we would not be in this mess? that is a half a million in profit that they would pocket...?

Therein lies a substantial part of the problem. What started out as a theory, ie - that the valve MAY have prevented the spill - has become fact.... It WOULD have stopped the spill.

Fact: The valve had never been tested at that depth and they don't KNOW whether it would have stopped the spill or not.

Now, I suppose that everyone will assume that I agree with BP not having spent money on the valve. In fact, I don't just it because I'm not actually an expert in such things.... however, I would lean towards saying that they should have taken EVERY precaution - including an untested valve..... but.... hindsight is 20/20.

 

[PatekPhilippe]

questions of oversight also came up in the new orleans hearings last month. For example, michael j. Saucier, an official with the minerals management service, said that his agency “highly encouraged” — but did not require — companies to have backup systems to trigger blowout preventers in case of an emergency.

“highly encourage?” captain nguyen of the coast guard asked. “how does that translate to enforcement?”

“there is no enforcement,” mr. Saucier answered.

hmmmmmmmmm.

sorry, but the right has spent decades tearing down regulation, none of you have the moral standing to complain one bit about it.

(((yawn)))

 

[California Girl]

I have already spoon fed you a list of their major shareholders, including US pension and insurance funds. 'Ruined'.... severely damaged.... whatever..... it will not be helpful for those innocent Americans for the US government to destroy BP.

Sorry, but no goal post moving is allowed. You said that a BP failure would results in millions of Americans having their pensions ruined. Please either justify this absurd statement or admit you were wrong.

So far, they have not tried to wiggle out of picking up the bills for this.

Yes they have.

So far, the only company who has tried to limit its liability is not BP, or the evil Halliburton... it is TransOcean. Hmmmm. Go figure.

What the fuck are you even talking about? BP is trying to get the case moved to an oil friendly court in Houston and was caught trying to trick Forest Gump into signing away his rights to sue, do you follow the news at all or do you just flap your mouth?

I don't 'follow' what you call news. No. I'm not that stupid.

 

[California Girl]

hmmmmmmmmm.

sorry, but the right has spent decades tearing down regulation, none of you have the moral standing to complain one bit about it.

(((yawn)))

Yep. Apparently Clinton was a Republican - according to WhinyBoyTuna.

 

[SpidermanTuba]

I have already spoon fed you a list of their major shareholders, including US pension and insurance funds. 'Ruined'.... severely damaged.... whatever..... it will not be helpful for those innocent Americans for the US government to destroy BP.

Sorry, but no goal post moving is allowed. You said that a BP failure would results in millions of Americans having their pensions ruined. Please either justify this absurd statement or admit you were wrong.



Yes they have.

So far, the only company who has tried to limit its liability is not BP, or the evil Halliburton... it is TransOcean. Hmmmm. Go figure.

What the fuck are you even talking about? BP is trying to get the case moved to an oil friendly court in Houston and was caught trying to trick Forest Gump into signing away his rights to sue, do you follow the news at all or do you just flap your mouth?

I don't 'follow' what you call news. No. I'm not that stupid.

You apparently don't follow any news.

BP asked a panel of judges to combine all lawsuits over economic and environmental damages from the Gulf of Mexico oil spill in a federal court in Houston.

BP wants spill lawsuits combined in Houston | Business | Chron.com - Houston Chronicle

The agreements, King said, essentially require that people give up the right to sue in exchange for payment of up to $5,000.

BP told to stop circulating settlement agreements with coastal Alabamians | al.com

 

[California Girl]

I've just watched a live interview with Tony Hayward (CEO, BP) on a British Sunday Politics show. Just for info, among his comments, he said: "BP will pay whatever it takes and will be there as long as it takes to put the Gulf Coast right." According to him, he "guarantees" that BP will put it right. He also said that any claims for compensation take 48 hours from initial claim to getting a check. He said that BP estimate that clean up and compensation will cost the company over £20bn (UK Sterling).

Shame you guys can't see it - because it's the BBC and I don't think their programs are available for worldwide audiences but it was a really interesting interview.

 

[Intense]

Questions of oversight also came up in the New Orleans hearings last month. For example, Michael J. Saucier, an official with the Minerals Management Service, said that his agency “highly encouraged” — but did not require — companies to have backup systems to trigger blowout preventers in case of an emergency.

“Highly encourage?” Captain Nguyen of the Coast Guard asked. “How does that translate to enforcement?”

“There is no enforcement,” Mr. Saucier answered.

Hmmmmmmmmm.

Sorry, but the right has spent decades tearing down regulation, none of you have the moral standing to complain one bit about it. For decades all we on the left have heard is "let the free market solve it all!" - but when the free market fails to solve it all, you're quick to blame government for failing to watch after BP as if it were a 2 year old

You are a sock puppet, moron. The free market is hiding under your bed. It's going to get you! They are coming to take you away! They are coming to take you away! They are coming to take you away Comrade! Ha Ha Ho Ho He He!

 

[California Girl]

Hmmmmmmmmm.

Sorry, but the right has spent decades tearing down regulation, none of you have the moral standing to complain one bit about it. For decades all we on the left have heard is "let the free market solve it all!" - but when the free market fails to solve it all, you're quick to blame government for failing to watch after BP as if it were a 2 year old

You are a sock puppet, moron. The free market is hiding under your bed. It's going to get you! They are coming to take you away! They are coming to take you away! They are coming to take you away Comrade! Ha Ha Ho Ho He He!

Indeed! Bill Clinton - that evil conservative - started it.

 

[Intense]

I've just watched a live interview with Tony Hayward (CEO, BP) on a British Sunday Politics show. Just for info, among his comments, he said: "BP will pay whatever it takes and will be there as long as it takes to put the Gulf Coast right." According to him, he "guarantees" that BP will put it right. He also said that any claims for compensation take 48 hours from initial claim to getting a check. He said that BP estimate that clean up and compensation will cost the company over £20bn (UK Sterling).

Shame you guys can't see it - because it's the BBC and I don't think their programs are available for worldwide audiences but it was a really interesting interview.

We get BBC on cable.

 

[California Girl]

I've just watched a live interview with Tony Hayward (CEO, BP) on a British Sunday Politics show. Just for info, among his comments, he said: "BP will pay whatever it takes and will be there as long as it takes to put the Gulf Coast right." According to him, he "guarantees" that BP will put it right. He also said that any claims for compensation take 48 hours from initial claim to getting a check. He said that BP estimate that clean up and compensation will cost the company over £20bn (UK Sterling).

Shame you guys can't see it - because it's the BBC and I don't think their programs are available for worldwide audiences but it was a really interesting interview.

We get BBC on cable.

If you get the Andrew Marrs Show from this morning, he's on it. It was a good interview.

According to him, this was a one in one million chance.... that all seven safety measures failed at the same time.

To me, despite the rantings, I see this as a 'shit happens' incident. I don't applaud BP - despite accusations - but I don't condemn them either. It was an almighty fuck up.... and I'm far more interested in putting it right than jumping to blame..... When it comes to blame, as I have said.... there is plenty to go around.... from BP, TransOcean, Halliburton, the US Government, and each and every American.

 

[Intense]

I've just watched a live interview with Tony Hayward (CEO, BP) on a British Sunday Politics show. Just for info, among his comments, he said: "BP will pay whatever it takes and will be there as long as it takes to put the Gulf Coast right." According to him, he "guarantees" that BP will put it right. He also said that any claims for compensation take 48 hours from initial claim to getting a check. He said that BP estimate that clean up and compensation will cost the company over £20bn (UK Sterling).

Shame you guys can't see it - because it's the BBC and I don't think their programs are available for worldwide audiences but it was a really interesting interview.

We get BBC on cable.

If you get the Andrew Marrs Show from this morning, he's on it. It was a good interview.

According to him, this was a one in one million chance.... that all seven safety measures failed at the same time.

To me, despite the rantings, I see this as a 'shit happens' incident. I don't applaud BP - despite accusations - but I don't condemn them either. It was an almighty fuck up.... and I'm far more interested in putting it right than jumping to blame..... When it comes to blame, as I have said.... there is plenty to go around.... from BP, TransOcean, Halliburton, the US Government, and each and every American.

BP did use damaged equipment which they knew about and argued about with their workers. That needs to be fully investigated. Sometimes we all learn the hard way. Lets distinguish between objective criticism and the rantings of the great unwashed.

 

[Madeline]

If the U.S. had required something called an "acoustic switch" to be installed on the rig, which cost a paltry $500,000 (compared to BP's billions in annual profits and the millions they are spending daily to fix their mess)

Leaking Oil Well Lacked Safeguard Device - WSJ.com

WHEN exactly we will all feel there's sufficient evidence to begin issuing murder indictments?

 

[Intense]

If the U.S. had required something called an "acoustic switch" to be installed on the rig, which cost a paltry $500,000 (compared to BP's billions in annual profits and the millions they are spending daily to fix their mess)

Leaking Oil Well Lacked Safeguard Device - WSJ.com

WHEN exactly we will all feel there's sufficient evidence to begin issuing murder indictments?

Maybe Criminally negligent manslaughter.

 

[PatekPhilippe]

I've just watched a live interview with Tony Hayward (CEO, BP) on a British Sunday Politics show. Just for info, among his comments, he said: "BP will pay whatever it takes and will be there as long as it takes to put the Gulf Coast right." According to him, he "guarantees" that BP will put it right. He also said that any claims for compensation take 48 hours from initial claim to getting a check. He said that BP estimate that clean up and compensation will cost the company over £20bn (UK Sterling).

Shame you guys can't see it - because it's the BBC and I don't think their programs are available for worldwide audiences but it was a really interesting interview.

We get BBC on cable.

If you get the Andrew Marrs Show from this morning, he's on it. It was a good interview.

According to him, this was a one in one million chance.... that all seven safety measures failed at the same time.

To me, despite the rantings, I see this as a 'shit happens' incident. I don't applaud BP - despite accusations - but I don't condemn them either. It was an almighty fuck up.... and I'm far more interested in putting it right than jumping to blame..... When it comes to blame, as I have said.... there is plenty to go around.... from BP, TransOcean, Halliburton, the US Government, and each and every American.

I watched it here in Bangkok You're right...there's plenty of blame to go around....it seems complacency was commonplace on these deepwater operations because there was no enforcement of even the VAGUE guidelines.