The biggest question is… will British Petroleum declare bankruptcy due to the spill in the Gulf? They have lost close to $88 billion in market value in the recent month, and shares make drop to a point of a hostile take-over from of all places…….China! Yes China needs oil resources, and has the necessary funds to purchase those unwanted shares.
Obama and his hostile administration have actually added to this problem by his repeated comments on the situation. Recent comments from the Whitehouse of “keeping his boot on the throat of BP,” and “looking for someone’s ass to kick,” have only served to demean BP, and drive stock prices even lower than they would have normally gone.
It seems to serve Obama and his administration well to publicly lambast, and demonize BP to sway public opinion towards his cap and trade bill that already passed congressional muster, but up until now sat teetering on the senate desk.
As time goes on with a continued oil leak Obama’s approval rating continues to fall, but it is this writer’s fear that the cap and trade bill will eventually gain more traction with democrats and environmental activists.
It is also my feeling that with liabilities to American soil increasing hourly, that somehow the Obama Administration will find some way to lay claim to BP even though it is a foreign company. In much the same way the Administration laid claim to GM and Chrysler by circumventing the bankruptcy court, I fear the Administration will seize US assets of BP and hold them ransom.
From the past 18 months of tyrannical reign, is it so far-fetched to see this one the horizon?
Comments
I'm afraid you are right, but I do think that Obama will win out over China, just a feeling....
China has been pursuing its policy of Conquest Through Purchase ever since GATT came in, wholly owns critical strategic mineral sources in this country, is known to have thousands of businesses owned and staffed by PLA, in this country, the Port of Long Beach, both ends of the Panama Canal, Mexican Pacific ports; BP may survive this, since its total liability is still capped, by law, at 75 million USD. The BO administration may attempt to seize BP's US assets, but my guess is that if this move is successful, the assets will be surrendered to the Chinese upon demand for payment of debt to China. Whoever is reaponsible for this is, in my opinion, a wholly evil creature of Satan.
It was just announced at lunchtime that the Justice Dept. is filing for an injuction to prevent BP from paying dividends this quarter. It looks like the Obama Administration has already started the takeover.
This guy was a novice from the beginning. He never held a high executive office and never was responsible for a budget or made decisions. He may not even be a citizen of the US. What a joke, we are victims of the biggest farce ever pulled on a nation by its politicians or the people in power. My fellow Americans, if you don't win back your country in this 2010 & 2012 election you can forget about it. We will be up cr_p creek without a paddle. Many people will lose their homes, money, pensions and their will be a civil unrest coming. The EPA, IRS, and the Dept of Miseducation have gone crazy. It's now or never, if we the PEOPLE lose this election this November, I recommend everyone go cross the border to Mexico and give the country back to the illegals, criminals and the politicians. Then we can be considered illegal while we invade Mexico (smile).
I fear for my country, this path we are going down is rediculous, we are giving up our soverienty and laying down to every third world nation. We need a LEADER not this usurper, who may or may not even be a citizen.
turk182 says:
It was just announced at lunchtime that the Justice Dept. is filing for an injuction to prevent BP from paying dividends this quarter. It looks like the Obama Administration has already started the takeover.
By what authority can they do that?
Obama now wants BP to pay the salaries of the oil workers on the rigs that THE GOVERNMENT SHUT DOWN by their deep water drill ban!
"I recommend everyone go cross the border to Mexico and give the country back to the illegals, criminals and the politicians. Then we can be considered illegal while we invade Mexico (smile)."
Costa Rico is better, no drug war beheadings there.
@Keep it real....by what authority did Obama take over the auto makers? He circumvented the bankruptcy court proceedings and made decisions that benefited the unions over the more secured investments. You tell me how he can do this! This whole admin istration violates laws one after the other, usually to benefit his campaign contributors, until like BP and then he wants to "kick somebody's ass"
BP's liability is the cost of clean up plus $75mil in punitive damages.
Keep in mind that the automakers came to Congress begging for money, not the other way around.
Justice Department can pursue an injunction (court still has to rule on it) to prevent the payout for dividends. Just because they file doesn't mean they'll get it. If they did get it, it would be so BP has the cash left over to pay for the clean up.
Oh, and if you actually read the newspaper, (Wall Street Journal), as of mid-day today, the Justice Department hasn't filed for an injunction and has publicly said they weren't even preparing it.
@baltimoron: So you believe the newspaper more than whats reported on the TV, that's fine, but burying your head in the sand doesn't relinquish the arrogant aggressive actions of your Obama Administration.Just the fact that they have considered this injunction is laughable, and wanting BP to pay the salaries because of a moratorium that Obama placed on all gulf drilling is flat out ILLEGAL!..but then you probably think that's ok.
Oh, and Obama circumvented the law concerning the Automaker bail out too!
It doesn't surprise me that Balti moron supports his commander in chief, he is a blinded liberal with a socialist dream
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