So I am loath to admit that I really dont want to wrap my head around any of the figures presented, because it hurts my head and soul to do so.
However, I am one who would rather face the truth head on than drown in ignorance.
Here is what I think. I think its bad. So bad that there are 12+ hour emergency meetings going on as we speak. I think that they dont have a
viable solution to the situation, AND
they still want to make money. (And by "they" Im including everyone involved as well as various other
countries, especially ours.)
My motto in our current society is "Follow the $$$". That will always lead you closer to the truth. An important factor for me is that Halliburton
is involved. I am sure we are all aware of their history of shoddy workmanship and the need, desire, and drive to get paid!
Who here really knows how intricately linked BP is to various govt's on the world? We can only guess, but for me the real goal for everyone involved
it to make as much money as possible. (Despite current "problems") This is a Tiber Field
lets chase the $$$ from that perspective. From the wiki pages:
Estimated Oil In Place:
4,000 Million Barrels
Stock percentage rise when the field was announced:
This made the stock go up from $51 to around $54 when the field was announced in Sept of '09
Currently the company's shares are sitting at $34, which if you are a student of greed, is quite unacceptable. (same source). This is a nice flow
chart on a breakdown of how much some oil companies are making per year:
I cannot begin to guess how many billions of dollars BP is going to loose now and in the years to come. However, I am willing to guess that the
figure has them very scared.
Here is a nice wiki link that has some interesting info on the lengths BP will go to make $$$ and bypass safety in the pursuit therof:
~2007: Propane price manipulation: "Four BP energy traders in Houston were charged with manipulating prices of propane in October
2007. As part of the settlement of the case, BP paid the US government a $303 million fine, the largest commodity market settlement ever in the
~2008: Oil price manipulation: "In May 2010, the Supreme Court of Arbitration of the Russian Federation agreed in support of the country’s
antimonopoly service’s decision to a 1.1 billion Ruble fine ($35.2 million) against TNK/BP, a 50/50 joint venture, for abusing antitrust legislation
and setting artificially high oil products prices in 2008..."
~Refinery safety violations: "Under scrutiny after the Texas City Refinery explosion, two BP-owned refineries in Texas City, Texas, and
Toledo, Ohio, were responsible for 97 percent (829 of 851) of willful safety violations by oil refiners between June 2007 and February 2010..."
BP and the other companies have an obligation first and foremost to the Shareholders
. This is going to be their focus. I am sure that part
of the main reason for the media blackout is to prevent an all out exodus of its shareholders. They would be bankrupt in a matter of hours if the
true account of how much PROFIT
(not oil!) is pouring into the gulf.
Now for those of us rooted in the non-greed aspect of this situation, we are quite aware of what this disaster means for us as a people and for our
little blue planet. I am truly devastated when I think of the far reaching effects of this.
Loam, I want to believe that your numbers are wrong. I feel like I am holding my breath and cant really breathe, like the bottom has yet to fall out.
I am not one for doom and gloom because I like to find the optimism and light in any situation. However, I have yet to find any when I think about
The only thing I can think of is that this will be the greatest lesson in all of creation on the fallacy of greed.