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BP's 20 Billion Dollar Fund

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posted on Jun, 16 2010 @ 08:40 PM
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You think taxpayers aren't going to pay the bill for this disaster?

BP does not have 20 Billion Dollars to put into a fund. Liquid assets on hand is about 7 billion, their stock is going to the basement, they will be bankrupt in a few years.

BP is not the United States Government, they can't print money at will.

Taxpayers will be stuck with the bill. What do we get out of it? How about majority shares of BP, but by then it will be known as Barack Petroleum, because the government will own it.




posted on Jun, 16 2010 @ 08:44 PM
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I've been saying this for weeks now. They are protected with loopholes and insurance riders. They will shirk the vast majority of the cost of this disaster in the end.

BP’s Options to Limit Liability From the Oil Spill



posted on Jun, 16 2010 @ 08:45 PM
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S&F, my friend........this should be posted everywhere....But, I would suggest you post links to their annual report to prove the cash on hand....



posted on Jun, 16 2010 @ 08:52 PM
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I think I read somewhere that after the Valdez disaster in Alaska the gov't put a special tax on every barrel of oil sold that went into an account to help clean any future disasters. Does this sound familiar to anyone? If this is true where is that money now?



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