Replies to This Discussion

Permalink Reply by Skip Peel - Mineral Consultant on June 1, 2010 at 2:38

Jay, it's hard for many to look beyond the disaster while it is still under way. I certainly do not wish for other companies to be negatively impacted and I support continued E&P in the GOM, shelf and deep water. I would hope that all the other companies with a significant portion of their business interests tied to offshore assets would be working with the federal government to come up with a set of minimum standards that includes those highlighted by the BP disaster so that everyone else can get back to drilling. As much as the industry chafes at government regulation, there comes a time to bite the bullet and accept that the game has changed. As well it should in light of this tragedy. If other companies are in compliance with the new minimum regs, let them resume drilling ASAP!

Permalink Reply by Skip Peel - Mineral Consultant on June 1, 2010 at 2:53

Do you think they may have legal recourse against BP? Is insurance available for this type of loss? Is the potential economic impact of losing these smaller operators such that they should receive federal assistance? Should the feds demand a payment from BP that would support these smaller operators until such time as drilling resumes?

Permalink Reply by Kat Bloomfield on June 1, 2010 at 2:48

Sounds like BP's liability just increases every day. I don't know what all the limitations on its liability are; to the extent any exist, those limits need to be lifted. Frankly, three unsecured creditors of BP ought to file an involuntary Chapter 11, forcing BP into bankruptcy, and voting in a Trustee to operate the company.

Permalink Reply by Kat Bloomfield on June 2, 2010 at 1:10

Seize those two wells

Permalink Reply by Kat Bloomfield on June 4, 2010 at 8:48

seize and hire another company to take over.

Permalink Reply by The_Baron on June 4, 2010 at 8:53

who would do it? Exxon, Conocco-philips? I doubt it.

Permalink Reply by Kat Bloomfield on June 2, 2010 at 1:19

Brilliant repose JR Ewing. Just as your Imaginary moniker implies, you don't exist except as a writer's fantastical self centered dipshit

Permalink Reply by king john on June 2, 2010 at 3:48

ha ha, i was waiting on that ! lol...
MUY CALIENTE !!!
kj

Permalink Reply by Henry on June 1, 2010 at 4:50

How many people will lose their jobs because of this??? Ouch!

Permalink Reply by P.G. on June 1, 2010 at 11:47

That doesn't begin to cover the impact of shutting down operations in the GOM. What about all the businesses that aren't even in the Oil business but thrive from the business they get from those who are?
This is going to be much bigger than just for the Oil industry..
Obama is going to find he's only a flea trying to control the dog!

Permalink Reply by Mac Davis on June 1, 2010 at 14:59

Hopefully, all the victims of the drilling shutdown remember this next election and tell all their relatives, friends, etc. about how they were screwed over by the government after BP made their mistake.

I also hope something happens that puts BP out of business and anyone who worked in BP management finds they can't get rehired in the O&G industry. BP makes the US government, the US Post Office, the US Congress, and Enron look like well run companies. Letting BP conduct O&G operations is like letting chimps handle hand grenades. I've heard from several insiders that BP management gives morons a bad name.

Permalink Reply by Explorer on June 2, 2010 at 9:08

Do you know how many people BP employs in the U.S. directly and in-directly? That would be horrible for the economy.

Also out of curiosity, if BP is such a poorly ran company, how did they manage to grow to the size that they are and have so much success?

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