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OT - Has Mark Levin lost it?

Discussion in 'Politics, Elections & Legislation' started by dmarbell, Jun 17, 2010.

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  1. dmarbell

    dmarbell Active Member

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    Against my better judgement, I post this thread.

    Mark Levin today was railing against Obama and others who think BP should be held accountable for the gulf spill. He was worried about little old ladies who invested in BP. He was worried that BP might be forced into bankruptcy.

    I'm sure he was against the rescue of AIG.

    Should BP not be held accountable for the spill and its damages? BP is responsible for the worst environmental disaster in US history, but we should cap the damages and make sure the company survives?

    BP risked its assets by drilling in deep water without adequate safety measures, and clean up procedures. Little old ladies risked their money by investing in such a company.

    What am I missing?

    Danny

    P.S. I usually agree with Mark's positions, although he is the most obnoxious person on radio.
     
  2. School Teacher

    School Teacher Well-Known Member

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    Yes BP is responsible but who will be left holding the bag if BP is forced into bankruptcy?

    The voluntary agreement by BP to put $20 billion into an escrow account to pay legitimate claims indicates that BP is willing to accept responsibility. As I understand it, the current legal exposure to BP was around $75 million.

    BP is also suspending its dividend for the rest of this fiscal year, putting another $100 million in escrow for compensation for laid off oil workers, spending large sums on the clean-up and has already paid out over $60 million in claims.

    BP self insured (no coverage) against losses of this type so my understanding that everything is on BP's nickle.

    I think that it would be a prudent course of action to not demonize BP at this point because if BP goes under the US taxpayer will have all of this mess on his shoulders.

    IMO, if the relief well approach does not work, we may be in the very early stages of a real calamity.

    One of the networks ran a short account of a huge Russian natural gas well that burned out of control for over a year. The ultimate solution was an underground nuclear blast to turn the rock into glass to seal the well.

    Ed Ward
     
  3. ivanhoe

    ivanhoe Well-Known Member

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    Whether it is true or not I don't know as I can't confirm it Snopes can't find it or refuses to find it.

    At any rate if you believe what is in it there may be a different light put on the blame for a lot of the damage since the explosion. BTW according to this little article not all the blame lies with BP.

    Bob Lawless
     
  4. dmarbell

    dmarbell Active Member

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    As I understand it, the legal exposure of BP is in the range of $11.5 billion. This is based on the fine per gallon of oil released into the ocean.

    Not sure I'm making myself clear here. But Levin was trying to say, in his own way, that BP should not really be held accountable. Kind of like saying, "drill away, if there is a mistake, the US Taxpayers will take responsibility." The opposite of conservatism.

    BP, and the associated companies, are solely responsible for killing the possibility of offshore drilling for the next 30 years. At least deep water drilling.

    Danny
     
  5. ou.3200

    ou.3200 Well-Known Member

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    BP was drilling in deep water because the Federal Government would not approve drilling in the shallow waters near Louisiana where stopping an oil spill would be easier although the State had approved shallow water sites. Ask yourself why this was done. The obvious answer is to appease the leftist radical environmentalists who dictate where and when drilling can take place. Yes, BP is responsible for the damage but Obama had no authority to require them to set aside $20 billion in an escrow account (another Obama slush fund). It appears that BP agreed under a threat to have the full force of the government being brought to bear on them. I don't have a warm and fuzzy feeling with the money being administered by an Obama appointee. Who really has control of the money and where will it go?
     
  6. bigdogtx

    bigdogtx Well-Known Member

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    Mark was trying to point out that hussein has NO power to shake down,,,,and it was a shake down,,,,purely politics,,,,where and who do you think the money will doled out by,,,,can you say acorn????Think about this,,,,what would happen if Exxon, Texaco or any other American company had this happen in the North Sea,,,,would we want other countries dictating what our companies had to do,,,,

    Now Mark is a strict Constitutionalist and there is nothing where hussein can force them to put this escrow money for them,,,,What BP should have done is told hussein to shove it,,,,came out and said WE are putting $X into an account and will have Ernst & Young or some other NON-gov't entity pay it out,,,,there is WAY TOO MUCH opportunity for crap to happen,,,,out of the $20B probably $10B will pay the new gov't workers which hussein will tout as new jobs that he created or saved....

    Don't get me wrong, BP should pay and they have agreed to,,,,I and Mark Levin don't TRUST our gov't to get this done efficiently and in a timely manner....
     
  7. halfmile

    halfmile Well-Known Member

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    How much will the government have to set aside for the fact that the boys at MMS were surfing porn and otherwise negligent in their oversight of this well's construction?

    How about the manufacturer of the blowout preventer?

    Making the Big Bad Oil company the villain is reminiscent of silent movie mentality.

    I personally tink our present Administration sat around dawdling in order for the crisis to become much worse (surely it was not simple incompetence).

    Rahmbo might have gone a little too far here.

    HM
     
  8. Setterman

    Setterman Well-Known Member

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    Wonder how much of that $20B will find its way to ACORN? SEIU?

    They are experts at channeling money.
     
  9. dmarbell

    dmarbell Active Member

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    Apparently, the same guy who administered the 9/11 victims fund will administer this fund, for paying claims. Not sure how it would be diverted to ACORN.

    Danny
     
  10. ou.3200

    ou.3200 Well-Known Member

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    It is already rigged to pay off Obama's supporters. He has refused to waive the Jones Act thereby preventing foreign vessels from entering the Gulf to assist in the clean up. Holland and other countries have offered their existing vessels set up to clean up oil but the Obama administration has officially declined all such help. What does that leave? American flagged vessels all manned by union members (obviously to placate Obama supporters). Also note that Obama demanded a set aside by BP to pay oil workers put out of work because of HIS moratorium on deep water drilling (those rigs will be pulled out and sent to other projects in foreign waters).

    No objection to American vessels and union members, it is just that in this emergency all assistance available should be marshaled to see that oil does not reach the environmentally sensitive shores of the Gulf states. Obama has been totally incompetent in coordinating and pulling together the resources necessary for the clean up. Just as Nero fiddled while Rome burned Obama has partied as the Gulf dies.
     
  11. bigdogtx

    bigdogtx Well-Known Member

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    Let's think like the sinister hussein,,,,Get $20B up front,,,,NO cap on claims on environmental, emotional, lost wages, future fishing, and the wages from the oil rig workers the HE PUT OUT OF WORK WITH HIS MORITORIUM (sp),,,,Force them into bankruptcy,,,,

    Now the BIG BAD oil companies cannot be trusted to clean up their mess,,,,WE (Federal Gov't) have to take over,,,,or....

    He want to be king....
     
  12. dmarbell

    dmarbell Active Member

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    silverbulletexpress,

    Natural disaster? Not sure I can buy into that one. Hurricanes, floods, earthquakes, tornados, those are natural disasters. Any company poking holes in the ocean floor a mile down, no matter who forced them to drill there, should have a plan for repairing that hole no matter what happens.

    Danny
     
  13. southjblue

    southjblue Active Member

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    What will he do if China has a simular problem?Will he force them into bankruptcy???That will be the nxt problem off our Fl coast---sjb---
     
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