Posted on 04/29/2010 11:14:27 AM PDT by blam
MAP OF THE DAY: BP's $12 Billion Nightmare
Vince Veneziani
Apr. 29, 2010, 12:52 PM
As the Transocean/BP oil spill continues to move toward the US coastline, states like Louisiana are gearing up to protect beaches and wildlife.
The result of this mess? BP Plc (BP) is down 6.9% or $3.98 to $53.36 a share whilst Transocean (RIG) is down 5.9% or $5.02 a share to $79.87. BP has lost $12.4 billion in market cap today alone as a result of this mess and comments from government officials about going after the situation that lead to this kind of.
BP has since lost $26 billion in market cap this week.
This map from NOAA.gov shows the projected paths that the oil will head including their approximate locations as of yesterday evening. Looks like Mississippi, Alabama, and Louisiana are now are now in the path of the fury.
(Excerpt) Read more at businessinsider.com ...
The Famous Pensacola Beach Sign
L
not anymore, sadly.
I live just above the 'B' in Mobile Bay on the map.
Well, BP doesn’t want to be an evil oil company anyway, so I sure don’t have any sympathy for their loss to the bottom line.
As rare as this sort of thing is, I think it put a stop on any new offshore drilling platforms that could last years.
What perfect timing for a rig to explode.
Don't want to let a crisis go to waste, ya know.
“BP has lost $12.4 billion in market cap today alone as a result of this mess and comments from government officials about going after the situation that lead to this kind of.”
To clarify, they didn’t lose that from the leak, they lost it from the potential government vilification.
I just heard on the local news that authorities are contemplating opening the shrimping season early so that the shrimpers can get some of the shrimp before the slick arrives.
Should have had American oil companies drilling there. Will Europe pay for the damages?
Sad.
"WASHINGTON – President Barack Obama pledged an all-out response Thursday to the massive oil spill now expected to reach the Gulf Coast within a day and dispatched top officials to the region to help coordinate defenses against the potential environmental disaster."
I read some time back that it is mostly Kuwaiti's that own BP.
Just heard the same here in New Orleans. I think they are allowing them to begin catching white shrimp tonight.
Thanks for the informative map.
None of the TVnets have had anything so detailed granted, albeit my viewing has been sporadic.
Got ya shrimp - they be a bit oily this yar!
BP is headquartered in both London and Houston. All work done in North America is done by BP America.
” Here’s The Questions You Should Be Asking About The Gulf Of Mexico Oil Spill (http://www.businessinsider.com/gulf-of-mexico-deepwater-horizon-oil-spill-2010-4)";
Thanks for the reference to an excellent article, which is very informative and explains why the sane response is to continue to drill offshore, albeit as safely as possible.
A reader remarking on the article had this to say:
“The U.S. is probably the only country in the world that does not require a Sub-Sea Safety Valve (SSSV) to be installed on every offshore well. This allows wells to be shut in even if the blowout preventers are damaged. Why MMS does not require this is beyond me.”
Anybody know about this?
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