Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on July 29, 2010 at 4:37

If gross negligence is the outcome, how far does BP's liability extend? Could all parties, including those operators and service companies active in the GOM, bring suit against BP for the wider scope of the collateral damage?

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Permalink Reply by Skip Peel - Mineral Consultant on July 29, 2010 at 4:51

I would like to think that there would be a way for BP to set up a fund now for the purpose of compensating loss by industry members hung out to dry in their GOM obligations as opposed to a protracted court battle during which the damage only increases. Keep rigs in the Gulf and employees on the payroll until such time as business can resume with whatever new safeguards are required. There are wider and more complicated questions yet to be addressed but those will likely only find a resolution through litigation.

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Permalink Reply by Skip Peel - Mineral Consultant on July 29, 2010 at 5:43

Jay, drilling regs aside, I am more concerned about how the legal question of insulating individual investors through limited partnerships may change in response to those partnerships that do not have the capital to reach certain levels of indemnification required for offshore/deep water operations. Those that wish to remain investors in E&P operations are likely looking at opportunities to move on shore.

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Permalink Reply by adubu on July 29, 2010 at 10:53

Another 20,000 US jobs goes with the rigs some where else in world thank you Obama

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Permalink Reply by Craig Cooper on July 30, 2010 at 1:50

Hardage, well said. There are a lot of very important energy-related issues facing our country and we must be able to work through them, discuss them intelligently and actively "guide" our representatives toward establishing a legitimate national energy strategy & policy.

Permalink Reply by adubu on July 30, 2010 at 5:34

Jay--I guess hardage left the site again--he has deleted all his replies and home page

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Permalink Reply by Sarah on July 30, 2010 at 15:54

I remember that Jay. And then he started up his own Haynesville shale forum. I guess it didn't really take off.

Btw Jay, thanks for sharing what you know about deepwater gulf with us. I know you discuss it everyday with your work and you know what you're talking about.

Permalink Reply by sesport on July 30, 2010 at 17:18

Darn you 2, adubu & Jay!!! I haven't been paid yet for that custom helmet! Carp!! You two will just have to split the costs because it's custom and there are no refunds.

I KNEW I should have gotten out the Shania & Tina Turner!

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