Is Fed Gov out of line on 20bn BP? Dictator Obama?

Originally posted by JBA2848
BP is probly already reworking there business structure to separate there global presence into smaller regional bp branches in order to limit there liability to only losing assets in a region that had problems. Leak in the gulf would lead to possibly filing bankruptcy in a gulf region and only losing assets in that gulf region while every thing else runs as normal.

This is just so much legel avoidance of liability is all this is.

If this fund didn't get created the funds would be gone befor a court date could be set to even think about getting money from them. President Obama did what he should have. He protected the American citizens from a BP bailout. Not to mention he got money for the people effected by the spill and didn't let it get tied up in court for twenty years.

By Law the people can take the fed and BP to court here. Natuarlly the dems want to look like they are taking care of the little guy here but they to are in line for a class action or even single private individuals taking them to court.

what is wrong with obama directing bp to setup a 20b account so that those affected will be paid without prejudice and in a timely fashion?

dont you feel lucky that obama is at the helm when this spill occured? can you imagine if bush was still running things? i reckon the majority of the cost of cleanup would be from the taxpayers wallet...and bp would have got off with a slap on the wrist!

reply to post by FuGGer



Well some are saying that this fund is going to be sacked and pillaged. The publicly expressed sentiments may be good but its just the fox preaching in the hen house.

Here ill give you a different angle to go by.

Dick Cheney makes deal with oil industry. Bush uses Dicks deal to win over Tony Blair by showing BP is now 1/6 of the economy for Britain because of Dicks deal. They now team up to go to war in Iraq because Bush Jr doesn't think Bush Sr should of stopped when Saddam left Kuwait and ran home with his tail between his legs.

No Dick, no Bush and no Tony they are all gone and a oil spill happens due to there lack of governence and over sight due to there back room deals for war partners. So now you have BP using the play book they were using under Bush and Cheney still and getting called out for it.

Private security contractors gaurding beaches from the public. Using plants to show that animals are being protected. That makes you think of something that happened in Iraq war when Bush was still around.

The plants would come from Sarah Palins deals from Alaska. Yes she made deals with discovery channel for a show about shooting wolves from helicopters due to over population. But that show got canned to many animal lovers out there. Then there was the deal with flying planes back and forth and how dangerious it was. That worked good with her bridge to no where plans until the public said F@#$ that idea. Then she got some oil money in there with ice road truckers. Truck drivers driving on ice roads to deliver drilling equipment. Then they got the most dangerious catch. Now Alaska is most of the shows on discovery channel, animal channel and history channel.

And who do you see on the news about the spill. People from the Animal channel who have ties to republicans and oil money. Country singers who have ties to Republicans and oil money. Boat captains from most dangerious catch who have ties to Republicans and oil money. Not to mention you have the bald guy and his wife on CNN all the time. James Carville and his wife Mary Joe Matalin allways complaining on CNN and saying this is Obamas Katrina. Mary Joe Matalin was an assistant to President George W. Bush and counselor to Vice President Dick Cheney until 2003. That would mean she counciled Dick at the time he made deals with big oil?

So thinking that this oil spill could turn into a bailout like the banks when BP spends all there money on paying dividends to investors is not far off. The bailout of BP would be Obama calling this a disaster and having FEMA take over using tax payers money for everything while BP investors and share holders walk away with all the profit. But Obama is smarter than that and I give him credit for it.

Ok but what about the money in the freezer....the money in the freezer.

Or the fed giving citizens of NO a check for thier homes...they could fix up or move even....whiel folks in Mississippi got screwed by everybody.

And to think, it's not even a full moon.

Dick Cheney, Sara Palin, "the bald guy", the deadliest catch, Tony Blair, money in the freezer, buying homes in NO.

Dang! My head is spinning.

And it's all Bush's fault. But, have no fear, Obama is gonna save humanity.

reply to post by Geeky_Bubbe


Guess I should use a chalk board like Glenn Beck.

For all of you people who think that this is somehow wrong and that BP is getting the short end of the stick please ask yourself what the people on the Gulf ever did to have their entire livelyhoods literately erased? You seriously need to rethink your priorities and have y'all heads examined.

The $20B is just the start of the account. I want BP to be forced to go bankrupt for destroying The Gulf Of Mexico.

Finally an international conglamurate is finally being forced by threat to pay for something it itslef (no one else) caused.

I care not for those who think this is a shakedown. What if it was your livelyhood ruined by someone's negligance? You would want whoever the entity is head on a silver platter demanding restitution.

This is Government being the big, bad entity that keeps these kinds of companies up at night living in fear. How many more livelyhoods must be destroyed before someone gives a flip about the average American?

This alone has devastated the shore from Corpus Christi, Texas all the way to The Florida Keys. The WORST ECOLOGICAL DISASTER IN BOTH RECENT MEMORY AND IN THE UNITED STATES. Someone needs thier feet held to the fire on this. Prosecutions and this account are just the begining,

You notice how there was not a GOP response and there will not be one ever on this topic as this is an American issue.

I say, let BP go under just like the entire petrochemical industry as the for the last 77 yrs have done nothing positive for humanity but keeping global terrorism and the "Wars Over Energy" going. The end of petrochemical powered transportaition is near. EITHER, GET WITH THE PROGRAM OR GET LEFT BEHIND! It is as simple as that, it is non negotiable, non debatable, not open for discussion nor is it leveragable. The future is now.

This account when it is said and done will be well north of $1 Trillion plus.

[edit on 18-6-2010 by TheImmaculateD1]

reply to post by JBA2848


Does Glenn Beck use a chalk board? I wouldn't know. I'm usually still slogging away at work and never see the show.

PS: One need not use a chalk board to make some semblance of sense.

Originally posted by Geeky_Bubbe
And to think, it's not even a full moon.

Dick Cheney, Sara Palin, "the bald guy", the deadliest catch, Tony Blair, money in the freezer, buying homes in NO.

Dang! My head is spinning.

And it's all Bush's fault. But, have no fear, Obama is gonna save humanity.

I think we are just having a row here.

Originally posted by Geeky_Bubbe
reply to post by JBA2848

 

Does Glenn Beck use a chalk board? I wouldn't know. I'm usually still slogging away at work and never see the show.

PS: One need not use a chalk board to make some semblance of sense.

Well at least your not spying on people and syber stalking.

Glenn has a good show and yes he really doesnt need the board but uses it for an aid. My school teachers always used the board. lol.

Originally posted by Logarock

Originally posted by Geeky_Bubbe
reply to post by JBA2848

 

Well at least your not spying on people and syber stalking.

perhaps that's what I "slog away" with when I work.

Does anyone know exactly what Obama did to "demand" this escrow fund?

THINK ABOUT IT:

BP's yearly profit is about $20 Billion. They are being asked to put ONE YEAR'S profit into escrow to be paid out over THREE years. They are getting off EASY!

LOOK INTO IT:

BP AGREES to $20 Billion Escrow Fund

This was an AGREEMENT between BP and Obama, not a demand or dictatorial edict. $20 Billion seems like a lot to you and I, but it's really NOTHING to BP. They're getting off easy and Obama looks like he's kicking ass.

DON'T BUY IT:

Don't be fooled into thinking that Obama has come down hard on the poor oil company. Or that he's somehow dictating this action. BP is HAPPY to agree!

BP Profits Jump 70% in Q4 of 2009

... 17-year run of increasing reserves

... first full year of production from the Thunder Horse field in the US Gulf of Mexico.

... making 2009 the seventeenth consecutive year of reserve replacement of at least 100 per cent.

Reducing the underlying cost structure of the Group remains a management priority in 2010.

Hayward got a 41% pay raise last year

BP profit is 6.1 Billion in One Quarter

BP PLC, Europe's second-largest oil company, said Tuesday that first-quarter profit more than doubled from a year earlier to $6.1 billion due to higher crude prices and lower production costs and taxes.

Cry me a river! Give me a break!

People complain because Obama doesn't do enough and now they complain because he's doing something. Make up your mind!

[edit on 6/18/2010 by Benevolent Heretic]

Yea folks dont have to go to court about everything. If BP says fine we will give you this and you can hand it out...well thats all well and good.

But whos going to keep an eye on how the funds are dispersed?

These action still donot protect BP of the FG from civil action. BP is down there now trying to get folks to agree to turms that would wave their right to litigate later.

First, a private citizen can bring a lawsuit against a citizen, corporation, or government body for engaging in conduct prohibited by the statute. For example, a citizen can sue a corporation under the Clean Water Act (CWA) for illegally polluting a waterway. Second, a private citizen can bring a lawsuit against a government body for failing to perform a non-discretionary duty. For example, a private citizen could sue the Environmental Protection Agency for failing to promulgate regulations that the CWA required it to promulgate....

Citizen Suit

reply to post by Benevolent Heretic


I've not been demanding Obama do more. I've simply wanted him to get the federal government to get out of the way and allow those who can "do something" to do it.

Governor Jindal would have a lot to say about what a hindrance the federal government has been.

Originally posted by Geeky_Bubbe

Governor Jindal would have a lot to say about what a hindrance the federal government has been.

Governor Jindal has a hard time putting together coherent sentences...

Something that you are overlooking here: Trusting a corporation to "do the right thing - no matter what the cost" is EXACTLY what got us in this situation.

Turn off Fox news and think about it for a second. I can honestly think of ZERO times a huge corporation voluntarily made decisions that would
A - Negatively impact their bottom line
and
B - Allow for even-handed, equitable and fast distribution of money to be given to people that were damaged by the corporations actions

Understand - this was not something that was forced on BP, despite what you're hearing on your local AM talk-radio program.

[edit on 18-6-2010 by atlguy]

reply to post by mnemeth1

BP should be bankrupted and its assets liquidated to pay for the clean up costs. Every available asset of BP should be sold at auction. Of course, that will never happen. Not while criminals run our government.

I couldn't agree more. We could only take and sell US assets...but yes...I agree with you 110 percent.

It could happen if we enforced anti-trust laws...unfortunately we don't do that here anymore...nor do we enforce tariffs to protect American businesses and manufacturing. Instead we have policies that ENCOURAGE outsourcing to slave labor countries.

We need a Teddy Roosevelt who broke Standard Oil. Yes...he broke them up and amazingly...the world survived!!!

reply to post by Benevolent Heretic

People complain because Obama doesn't do enough and now they complain because he's doing something. Make up your mind!

YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Someone give BH an applause for that post PLEASE!!!! Great bit of info...I was just reading that stocks for BP were up today.

Nothing like a BS lashing from Congress....BP's CEO took it in stride...it was all worth it for him.

BP should be stripped of ALL AMERICAN ASSETS and they should be SOLD. At least let an oil company who practices AT LEAST SOME KIND OF SAFETY to overtake those operations.

TO HELL WITH BP.

Originally posted by David9176
reply to post by mnemeth1

 

BP should be bankrupted and its assets liquidated to pay for the clean up costs. Every available asset of BP should be sold at auction. Of course, that will never happen. Not while criminals run our government.

I couldn't agree more. We could only take and sell US assets...but yes...I agree with you 110 percent.

It could happen if we enforced anti-trust laws...unfortunately we don't do that here anymore...nor do we enforce tariffs to protect American businesses and manufacturing. Instead we have policies that ENCOURAGE outsourcing to slave labor countries.

We need a Teddy Roosevelt who broke Standard Oil. Yes...he broke them up and amazingly...the world survived!!!

There are ~24,000 +/- employees of BP in the US. Yes, an overseas company "Insourcing" to the US.

Further:

Of the 126 people working on the Deepwater Horizon, only eight were BP employees. BP had a 65% share in the well, while a partner, Anadarko, had 25%. The rig was owned and operated by a US firm, Transocean. A failed blow-out preventer was made by another US firm, Cameron, while Halliburton, the oil services firm once run by Dick Cheney, carried out cement work that was supposed to seal the well. link

I'm sure those 24,000 Americans will be happy to lose their jobs so that their fellow citizens can feel that warm and wonderful feeling of vindictive revenge.

Shall we also confiscate the assets of the other companies? The *US* companies? And, if not, why not?

Originally posted by atlguy

Originally posted by Geeky_Bubbe

Governor Jindal would have a lot to say about what a hindrance the federal government has been.

Governor Jindal has a hard time putting together coherent sentences...

You know, until I read your comment, which I found shocking, I thought Bobby Jindal was a Democrat. Since your comment had all the hallmarks of a political snipe I looked it up. He is a Republican... which you probably already knew. I've just been impressed by his leadership, his passion, his intelligence, his inexhaustible and singular focus on his constituent's crisis of livelihood and lifestyle. A natural leader leading from the Front Lines.

As to his "hard time putting together coherent sentences..." that's actually funny given his demonstrated innate intelligence, to say nothing of his academic record.