Thursday, May 13th, 2010

One Bazillion Lawsuits Later, BP Stock May Finally Dive

TODAY'S OILY FORECASTBP stock, which had been hanging around at 60, is now finally heading below 50, and we hope everyone ditches out and makes those Gulf-destroying schmucks broke. So broke they won't be able to air their ridiculous "we're green!" TV ads. There's a huge number of smaller lawsuits against the company, and the company has apparently spent $450 million on cleanup (and publicists) so far (without much success obviously!) and the potential and potentially massive criminal charges are barely even being contemplated yet-but they will be, oh and how. This is not particularly a rational or even reasonable response but I would pretty much like to see BP bankrupted.

6 Comments / Post A Comment

oudemia (#177)

If the EPA ends up paying for the cleanup, I would also like to see BP's Gulf operation nationalized.

Kevin (#2,559)

I also want to see lengthy and debilitating prison sentences for BP, TransAtlantic, and Haliburton execs. Plus bankruptcy and destitution for them.

I agree in sentiment, but wouldn't it be better if they stayed in business and paid some astronomical fine?

I know these statistics change periodically and may not have changed since the spill, but the short ratio and # of shares short is very low, even negligible. Normally I think this is updated every 30 days (or 60?) or whatever, but I wonder if it was updated for BP considering the situation.

Anyway, the volume is solid but unamazing today, esp. compared to last week's volumes. The 52-week high is only $62.

Crantastical (#4,127)

Are they still trying to call themselves Beyond Petroleum? That rebranding didn't turn out so well.

kneetoe (#1,881)

Well, the 19.5 million barrels of oil the US consumes every day has to come from somewhere/someone, and that someone will probably be an oil company, BP or otherwise.

Niko Bellic (#1,312)

Yeah. Also: a harem of hot women that I need has to come from somewhere, people!

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