Saturday, January 8, 2011

BP's "drowned" in disaster: the endless no measure of compensation.

<P Align=center> </ P> <P> after a long weekend, the British Petroleum's shares fell Tuesday after the opening was 17%, marking the largest decline in 18 years, the stock dropped to its lowest in more than one year .point. .Last weekend, British Petroleum announced that, after nearly a week of trying to mix with mud and other materials perfusion blocked oil wells in the "top kill" failed. .</ P> <P> BP this is not the first time let people down. .Since the April 20 oil spill began, the company has only used open spray valve cover mounted oil control, set the other way plugging oil suction pipe, but failed. .Next, BP given the option of continuing to dig relief well, but has also been associated works at least August to complete, which means that oil may be at least another two months. .</ P> <P> this point, the Gulf of Mexico oil spill over "Exxon Valdez" oil tanker spill in U.S. history's worst environmental disaster. .</ P> <P> in the stock market, investors have sold with a crazy, this oil giant to express dissatisfaction with poor sealing and concerns about the outlook for the company. .</ P> <P> oil spill occurred more than a month, British Petroleum's share price had fallen by one third, to 112.4 billion U.S. dollars. .Only on Tuesday, the company's market capitalization to evaporate more than 23 billion U.S. dollars. .So far, the company's spending on oil spill response has been close to 10 billion U.S. dollars, and the next there will be endless compensation, no way to measure the size. .</ P> <P> step by step with the deterioration of the situation, some people have begun to suspect that the unprecedented oil spill, BP will become the "drowned," the disaster, so that toward the end of this century-old bankruptcy ., or swallowed by competitors. .Recently, BP's 5-year corporate bond credit default swaps rose sharply, but also confirms the company's investor concerns about the outlook. .</ P> <P> If absolute power from the point of view, the total assets of nearly 2,000 billion U.S. dollars, ranking the top five global BP 500 seems unlikely to be bankrupt, but if the oil spill caused by taking into account the serious economic ., environmental and social consequences, BP test this time is probably facing the most severe one company's history. .</ P> <P> emotions from people who, BP oil spill caused by the anger and resentment will not lose in the past Wall Street's Lehman Brothers or Goldman Sachs. .BP, although the taxpayers did not get relief, but may be regarded as "profiteering" companies. .Only in the first quarter of this year, BP's net profit reached 5.6 billion, up doubled. .</ P> <P> to make money so, BP in the accident but did not reflect an international corporate responsibilities and capabilities, whether prior or subsequent response prevention. .At least in public view, BP Oil's ability to dig deep sea, far better than the "blocking oil" capability. .</ P> <P> the U.S. Congress and the White House from the point of view, given the oil crisis has seriously undermined the reputation of those in power, then I am afraid that it will not BP "leniency", the Government has started for the oil spill .criminal investigation. .In order to restore public confidence and support for and punish the culprit, or to find a political scapegoat fear is necessary. .</ P>.

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