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BP Takover?

Discussion in 'Politics, Elections & Legislation' started by halfmile, Jun 1, 2010.

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  1. halfmile

    halfmile Well-Known Member

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    Oh, yessssssssssss. Former Labor secretary says the Gov should take over BP because they are not fixing the oil spill soon enough.

    In the words of the immortal Rahm-a-Dahm, don't let a good crisis go to waste!

    I would wager BHO wants to confer with Chavez on this one.

    HM
     
  2. BFJ201

    BFJ201 TS Member

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    Good luck with that. BP stands for BRITISH Petroleum. That sounds as though that would be a little bit out of the jurisdiction for a takeover. That would also create a precedent that we could not stand for. A company being nationalized because of financial distress is bad enough, but a nationalization as a punishment is unfathomable.

    James Allen
     
  3. skeeljc

    skeeljc Supporting Vendor Supporting Vendor

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    At the rate the "FIX" is going BP will not be around in six months. I wonder what that will do to the price of oil?

    Jim Skeel
     
  4. Dave P

    Dave P TS Supporters TS Supporters

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    Each Drilling or Platform is under license/permit and has various clauses for our protection. Takeover is possible and legal.
     
  5. Recoil Sissy

    Recoil Sissy Well-Known Member

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    Under normal circumstances (whatever normal might mean) your observation just might have merit. However, Obambi was all over the news from mid week to last Friday insisting that "he" was in charge of the spill and "he" was responsible for stopping the leak, and "his" gubment was micromanaging BP's efforts to stop the leak on a minute to minute and step by step basis. Obambi's toady Ms. Browner spent Sunday morning echoing that message.

    The bottom line?? BP won't be allowed to p!ss away it's assets. That's Obambi's job.

    sissy
     
  6. timb99

    timb99 Well-Known Member

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    I heard on the radio this morning, that worst case, BP's liability for this would be equivalent to about one year's worth of profits.
     
  7. PerazziBigBore

    PerazziBigBore TS Member

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    What will happen when they determine all this oil in the Gulf has raised the water temp 3 to 5 degrees warmer and another Katrina hits?? or even worse..Then the lawsuits will be over the increased damages of a more powerful hurricane.. If we see a new leval.. Cat 6.. which is not in existance now.. Then what... All Joking aside.. There MUST be some kind of logic why they have not capped the well..

    Engineering 101 would put a slightly undersize pipe in the hole with a cone flange on the bottom.. and a expanding collet over it.. By use of a threaded nut.. or a slick sleeve with a hydrolic ram attached..forcing the collet to the wedge.. and new wellhead with valve is easily installed.. from there.. either close the valve.. or send oil to a distribution manafold..

    Not rocket science.. and CERTAINLY more than enough for up to 6500PSI..
     
  8. wireguy

    wireguy TS Member

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    I've wondered why they don't try to capture the oil and start loading tankers instead of plugging it. Get a vertical hose over it and line up the tankers.

    I understand Obama plans to plug the hole with deficit borrowed cash.
     
  9. wm rike

    wm rike Member

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    From the start, from the very first day, people within the industry knew that the most reliable way of fixing the problem was to drill relief wells. Amazingly, BP had the first rig on site within days and the thing is making incredible progress (I worked offshore on the deepwater semis, and believe me, those guys are cooking). Rigs like that aren't sitting on shelves and you can't just snap your fingers and have one at your front door, but BP did well to have the second rig in place within 10-14 days, whatever it was.

    All the other stuff they have tried, regardless of how neat or screwball they sound to the lay person, are just a series of little hail mary-schemes to employ while the relief wells get drilled.

    Engineering 101 may in fact be good for 6500 psi (I wouldn't want to be standing close by), but the pressure on the well is probably more on the order of 15,000-16,000 psi. Serious stuff, hard to get to, and dangerous to be around.

    While Washington has looked stupid, acted indignant, said it is in charge (?), and said it was angry, BP's course of action thus far has been proper and well directed. They hoped for the quick fix and planned for the sure fix from day one. We would all like it to be over yesterday but will have to wait for the reality of tomorrow.
     
  10. markdenis

    markdenis TS Member

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    Nearly every broker that covers BP has them at a "buy". It probably won't be long before BP recovers and people that have bought it at this low price will make a fortune.

    It will take years for BP to settle with all parties...by then they will make plenty of profit.

    Mark
     
  11. BigM-Perazzi

    BigM-Perazzi Well-Known Member

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    missed some, where did you get those wacky idea's? The damn thing exploded...

    wireguy, have you even bothered to read the daily news on what and why they are doing what their doing???

    Another Effort to Contain the Oil

    BP and federal officials have decided to abandon any attempts to plug the gushing well before a relief well is completed in August, and are now focused on efforts to contain the oil. On Wednesday, response crews plan to affix a cap to the blowout preventer and siphon the leaking oil into the cap through a new riser and up to a ship on the surface.
     
  12. 221

    221 Banned User Banned TS Supporters

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    The ambient pressure @5000' is around 2200psi. From the photos I've seen the pipes are bent over at the Gulf floor. I'm no oil well expert, but off shore oil rigs have many pipes......not just one like on land.
     
  13. highflyer

    highflyer TS Member

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    The environmentalists forse drilling way off shore in water too deep for us to fix a catastrophe then Obama's answer is to take them to court. Isn't that the liberals answer to every problem.
     
  14. Bruce Specht

    Bruce Specht Well-Known Member

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    So then we would need to nationalize in order to take over a foreign held corp?
     
  15. Anchorsteam

    Anchorsteam TS Member

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    ...wonder what the spill will do to the price of water?
     
  16. EE

    EE Banned User Banned

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    BP is a definite buy, on every dip. They will recover.
     
  17. highflyer

    highflyer TS Member

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    Obama needs an oil company to go with his car company and the banks he owns to finance them. Then he could have the government finance cars for minorities, illegals and homos and provide them with the gas to fuel them, all at the tax payers expense. You've got to love America. Land of opportunity.
     
  18. ricks1

    ricks1 TS Member

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    the rig was on pontoons they are not armor plate burning high pressure oil/gas is what they melt steel with It the same as the twin towers
    the top melted and fell on the pontoons and they filled and sunk
    I like the take over thing Mr O gooby cant do anything right and he want to take over an oil co He thought that a BOP was something they were saying about him
     
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