ThatDamnedPanda
Posts: 6060
Joined: 1/26/2009 Status: offline
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Ah, you and your damned quoting techniques!!! quote:
ORIGINAL: thompsonx I would point out that it was bp who chose to use a less effective and cheaper blow out preventer. It was bp who chose to lie about the magnitude of the spill. It was bp who lobied to reduce the protocol precautions concerning blow outs. A separate issue, but actually it supports my point more than it does yours. I agree that the only thing that motivates these despicable rat bastards is their bottom line, but that's exactly why they want to get this shut off as soon as possible. The point you're overlooking is that no matter how much oil they salvage, every day that the leak continues costs them far more than the value of however much oil they might recover. It's simple math. At most, even if they were able to recover and sell half the oil that's leaking, they might get as much as a million dollars a day in revenue (that's assuming a leak of 25,000 bbl per day and oil at $80 a barrel). They have already spent well over a billion in less than 50 days, and the true costs haven't even started piling up yet. Any way you look at is, there's just no way to jigger the math to make it even come close to making sense for BP to deliberately drag their feet shutting down the leak. None. It just doesn't add up. quote:
ORIGINAL: thompsonx I believe the link was posted about the two skimmer ships from sweden that retrieve the oil with centrifuges brought in by bp. Of course. The only way to get the oil out of the water is to separate it from the water. Skimmer ships, centrifuges, polymer filters, whatever. What are they supposed to do, leave the oil in the water in order to prove that they don't really want it? quote:
ORIGINAL: thompsonx Do you remember reading recently how the fines levied against exxon for the exxon valdez spill were reduced to about 1/100 of the original fine. First of all, I don't believe the fines were reduced. Damages were, but I don't recall fines being reduced. I'm open to being wrong about that; I just don't remember it. And if I recall correctly, compensatory damages were not reduced at all; it was punitive damages that were cut. We need to remember that fines, damages, and cleanup costs are three totally separate issues. There's no way they're going to get the cleanup costs reduced, because whatever it costs is what it costs, and it's their responsibility. So that's almost certainly going to be a minimum of $5 billion that they're on the hook for. Compensatory damages will also be in the billions, and I think it's very probable that the $75 million cap on damages will be lifted because of negligence or criminal misconduct. That will total another several billion. Punitive damages are always a wild card, but I think it's a safe bet they'll be considerable - probably well into the billions, and while that may be reduced, it will still be considerably more than the value of the oil that is flowing out of the ruptured pipe. And, the same is true of the fines. There's no way to know what they'll total, and what they'll be reduced to, but political pressure will probably dictate very high fines and relatively modest adjustments. They're going to get crushed before this is over, any way you look at it. quote:
ORIGINAL: thompsonx Had not the headlong rush for black ink on the bottom line not clouded their judgement about the predcautions relating to this sort of enterprise then perhaps this would not be happening. Perhaps people and corporations should be sanctioned out of business for the willing disregard for the safety and well being of others. No argument there. Few things would make me happier at this point than seeing BP wiped out as a company, and some of their key personnel serving lengthy prison terms after being sued for everything they own and being bankrupted.
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Panda, panda, burning bright In the forest of the night What immortal hand or eye Made you all black and white and roly-poly like that?
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