Author Topic: why BP  (Read 890 times)

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Offline fatercat

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why BP
« on: April 30, 2010, 05:51:50 AM »
why the hell is Bp drilling off "our" coast anyway??????

Offline scootrd

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Re: why BP
« Reply #1 on: April 30, 2010, 06:13:43 AM »
Drill Spill Baby Drill Spill , Appears your damned if ya do , and damned if ya don't. I love politics.
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Offline INresponse

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Re: why BP
« Reply #2 on: April 30, 2010, 06:36:55 AM »
I copied this from Wikipedia, but it should be fairly accurate in answering your question.

"British Petroleum merged with Amoco (formerly Standard Oil of Indiana) in December 1998, becoming BPAmoco until 2000 when it was renamed BP and adopted the tagline "Beyond Petroleum," which remains in use today. It states that BP was never meant to be an abbreviation of its tagline. Most Amoco petrol stations in the United States have changed the look and name to the BP brand. In many states, however, BP is selling Amoco branded gasoline, as it was rated the best petroleum brand by consumers 16 years in a row (the name of the service station itself is still BP) and Amoco has one of the highest brand loyalty for gasoline in the US with only Chevron and Shell having such high rates as BP/Amoco. In May 2008, however, the Amoco name was mostly phased out in favour of "BP Gasoline with Invigorate", promoting BP's new additive. The highest grade of BP gasoline available in the United States is still called Amoco Ultimate, however. In 2000, British Petroleum acquired Arco (Atlantic Richfield Co.) and Burmah Castrol plc."

I guess by buying Amoco they were allowed to drill and pump off our coast. 

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Offline gypsyman

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Re: why BP
« Reply #3 on: April 30, 2010, 07:36:05 AM »
The BPO Husky refinery here in NW Ohio, started out as a Standard refinery when it was built 80 years ago or so. I'm betting when one company buys out another, it includes rights for drilling and such. gypsyman
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Offline williamlayton

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Re: why BP
« Reply #4 on: April 30, 2010, 09:57:32 AM »
Shell drills all over and in the Gulf----who owns Shell?
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Offline INresponse

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Re: why BP
« Reply #5 on: April 30, 2010, 11:36:06 AM »
I copied this from Wikipedia, but it should be fairly accurate in answering your question.

"British Petroleum merged with Amoco (formerly Standard Oil of Indiana) in December 1998, becoming BPAmoco until 2000 when it was renamed BP and adopted the tagline "Beyond Petroleum," which remains in use today. It states that BP was never meant to be an abbreviation of its tagline. Most Amoco petrol stations in the United States have changed the look and name to the BP brand. In many states, however, BP is selling Amoco branded gasoline, as it was rated the best petroleum brand by consumers 16 years in a row (the name of the service station itself is still BP) and Amoco has one of the highest brand loyalty for gasoline in the US with only Chevron and Shell having such high rates as BP/Amoco. In May 2008, however, the Amoco name was mostly phased out in favour of "BP Gasoline with Invigorate", promoting BP's new additive. The highest grade of BP gasoline available in the United States is still called Amoco Ultimate, however. In 2000, British Petroleum acquired Arco (Atlantic Richfield Co.) and Burmah Castrol plc."

I guess by buying Amoco they were allowed to drill and pump off our coast. 

British Petroleum:
 Our brands:
 BP
 Castrol
 Arco
 Aral
 am/pm
 Wild Bean Cafe

Shell:   Shell is a global group of energy and petrochemical companies. Our headquarters are in The Hague, the Netherlands, and our Chief Executive Officer is Peter Voser. The parent company of the Shell group is Royal Dutch Shell plc, which is incorporated in England and Wales.

Shell by numbers
+ 90 countries where we operate
~101,000 number of employees
2% amount of world’s oil we produce
3% amount of world’s gas we produce
3.1 million barrels of gas and oil we produce every day
44,000 Shell service stations worldwide
145 billion litres of fuel sold
>35 refineries and chemical plants we run (figures for 2009)
1 ranking by Fortune 500 in 2009

ConocoPhillips:
ConocoPhillips traces its beginnings to 1875, when Conoco founder Isaac E. Blake envisioned an idea to make kerosene available and affordable to townspeople in Ogden, Utah. Thirty years later, the foundation for Phillips Petroleum Company began when brothers Frank and L.E. Phillips hit the first of 81 wells without a dry hole. Nearly a century later, the two companies combined their strengths to form what is now the third-largest energy company in the United States. The ConocoPhillips merger, completed on Aug. 30, 2002, paved the path for the company’s current and future success.   
In 2006, Burlington Resources joined ConocoPhillips. The acquisition brought Burlington’s more than 100 years of experience to ConocoPhillips and enhanced the company’s position as a leading producer and marketer of natural gas. In recent years, ConocoPhillips began commercial production of renewable diesel fuel, started the first Alpine satellite oil field, announced plans for a global water sustainability center and formed a partnership with Tyson Foods, Inc. to produce next-generation renewable diesel fuel. While ConocoPhillips’ history still is young, the histories of Conoco, Phillips and Burlington provide a solid foundation for ConocoPhillips to leave a mark on the industry.

Conoco Inc.:
Conoco Inc. began in 1875 as the Continental Oil and Transportation Co. Based in Ogden, Utah, the company distributed coal, oil, kerosene, grease and candles to the West.

Phillips Petroleum Company:
Phillips Petroleum Company traces its roots to Bartlesville, Okla., in the middle of Indian Territory. In 1905, Frank Phillips and brother, L.E. hit their first gusher, the first of 81 wells in a row without a single dry hole.

Burlington Resources:
The seeds for Burlington Resources were planted in 1864 when U.S. President Abraham Lincoln granted to Northern Pacific Railway Company, predecessor to Burlington Northern Railroad Company, land and right-of-way to build a transcontinental railroad.

Sinclair"
A proud tradition was born on May 1, 1916, when Harry Sinclair formed Sinclair Oil from the assets of eleven small petroleum companies. Sinclair quickly grew to become the seventh largest oil company in the United States. The original Sinclair Oil Company began marketing the apatosaurus (brontosaurus) in 1930 and now after more than 70 years, "Dino" still remains one of the most recognizable corporate logos in the world.

Sinclair is headquartered in Salt Lake City, Utah, and is the nucleus of a corporation that includes Snowbasin Resort in Ogden, Utah (site of the 2002 Downhill Courses), as well as Sun Valley Resort in Idaho. One of the most prominent properties of Sinclair is Little America, a beautiful hotel, travel center and restaurant located on I-80 in western Wyoming.


Maybe we should be buying from ConocoPhillips and Sinclair if we want to support American companies and American workers.

(I do not work for, or own stock in either company.  Just saying .....)

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Offline eye shot

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Re: why BP
« Reply #6 on: April 30, 2010, 03:01:08 PM »
I saw someware that BP is one of the few refinerys in the US that doesn't use middle east crude. BP-Husky, Husky is out of Canada but is owned by a Chinaman. The Toledo-Oregon refinery is on the verge of handleling all the sour sand crude to come out of Canada.
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Offline Sourdough

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Re: why BP
« Reply #7 on: April 30, 2010, 10:47:18 PM »
British Petroleum is what BP stands for.  Always has and always will.  A major share holder is the Queen.  Anyway BP has been in Alaska for as long as I can remember.  Over 40 years I know.  They are the majority owner of the Alaska Pipeline, along with Exxon/Mobil owning the rest.  They have played dirty and ran all competitors off the North Slope, by charging extremely high tariffs for pumping oil through their pipeline.  When they have a tiff with the state of Alaska, they slow down the oil being pumped through the pipe and drastically cut the revenue paid to the state.

British Petroleum plays dirty, and will do the same with this spill.  Any awards made against BP by the courts will be tied up in court for decades.  Very little will ever be paid for damages.

This spill will make the Exxon Valdez look like a dress rehearsal.  It's going to be far bigger and far worse.
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Offline Boxhead

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Re: why BP
« Reply #8 on: May 03, 2010, 03:15:45 AM »
why the hell is Bp drilling off "our" coast anyway??????

For the same reason US companites Chevron and ExxonMobil drill all over the world. They bid on tracts and are awarded the bid based upon highest offer. Pretty simple really. Folks just refuse to accept it is a world market and the US is just a player in it like every other country. These are the good old days I believe...

Offline bigmoon

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Re: why BP
« Reply #9 on: May 03, 2010, 09:14:23 AM »
     I think a better question is HOW BP? Namely, how is BP going to afford to pay for all the damage being done to the Gulf Coast? Clean-ups. lost productivity, environmental damage, etc.: there isn't a corporation in the world prepared to shell :P out the money that will be required.

     I think that, like corporations do, BP will go bankrupt and either fold or get massive bail-outs. And even if they do find the resources who is going to foot the bill inevitably? The executives? The stock holders? Or all of us, in the form of higher fuel costs?

     Mark my words: this clean-up is going to result in a federal fuel surtax, "to be repaid by BP", of course.

     And, of course, it never will.

Joe B.
An armed society is a polite society. Manners are good when one may have to back up his acts with his life.

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Offline williamlayton

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Re: why BP
« Reply #10 on: May 03, 2010, 01:33:26 PM »
Read how much they made in one quarter last year.
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Offline mechanic

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Re: why BP
« Reply #11 on: May 03, 2010, 01:40:07 PM »
I wonder how far from shore they are.  My understanding we only control a 12 mile limit?  I do know that China is drilling off Cuba/Florida.  They apparently were not concerned with Jeb Bush..........
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Offline scootrd

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Re: why BP
« Reply #12 on: May 19, 2010, 05:57:05 PM »
A state's territorial sea extends up to 12 nautical miles

An exclusive economic zone extends from the outer limit of the territorial sea to a maximum of 200 nautical miles.  A coastal nation has control of all economic resources within its exclusive economic zone, including fishing, mining, oil exploration, and any pollution of those resources.
"if your old flathead doesn't leak you are out of oil"
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Offline mechanic

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Re: why BP
« Reply #13 on: May 19, 2010, 06:11:57 PM »
I've read, (can't prove it), that China is drilling off the coast of Cuba, (less than 90 miles from Fla. ), and is slant drilling almost under Fla.  We should have gotten that oil.  As bad as BP is, how much worse will China be in a spill?
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Offline wreckhog

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« Reply #14 on: May 19, 2010, 06:46:33 PM »
June 13, 2008
Cheney: Oops on China drilling off Cuba
Vice-President Dick Cheney's office has acknowledged he was wrong when he told the U.S. Chamber of Commerce on Wednesday that  China was drilling for oil off Cuba's coast, just 60 miles from Key West.

Republicans used that talking point this week as they pushed for opening more of the Outer-Continental Shelf to oil and gas exploration, including the eastern Gulf of Mexico off Florida. That talking point brought some intra-party push-back from Sen. Mel Martinez, Florida Republican, who took to the Senate floor to refute it.

Though that doesn't mean the Cubans don't want to.

You can read the full story below.

WASHINGTON (AP) — Vice President Dick Cheney's office acknowledged late Thursday that he was mistaken when he asserted that China, at Cuba's behest, is drilling for oil in waters 60 miles from the Florida coast.

In a speech to the U.S. Chamber of Commerce, Cheney said on Wednesday that waters in the eastern Gulf of Mexico, long off limits to oil companies, should be opened to drilling because China is already there pumping oil.

"Oil is being drilled right now 60 miles off the coast of Florida," the vice president said. "We're not doing it, the Chinese are, in cooperation with the Cuban government. Even the communists have figured out that a good answer to high prices is more supply."

He cited his source as columnist George Will, who last week wrote: "Drilling is under way 60 miles off Florida. The drilling is being done by China, in cooperation with Cuba, which is drilling closer to South Florida than U.S. companies are."

Congressional Democrats pounced on the vice president's remarks Friday and were backed up by independent energy experts, who called the assertion hyperbole at best and a falsehood at worst.

Cheney's office said in a statement to The Associated Press that the vice president had erred.

"It is our understanding that, although Cuba has leased out exploration blocks 60 miles off the coast of southern Florida, which is closer than American firms are allowed to operate in that area, no Chinese firm is drilling there," according to the statement.

Cuba clearly is interested in developing its deep-water oil resources, estimated at more than 5 billion barrels, including areas within 60 miles of Key West, Fla., energy experts said.

Jorge Pinon, a senior energy fellow at the University of Miami specializing in Latin America, said Cuba has awarded offshore oil leases, or concessionary blocs, in its offshore waters to six oil companies — none of them Chinese — and soon may announce an agreement with Brazil's state oil company, Petrobras.

"But no one is currently drilling in any of those concessions," said Pinon in a telephone interview. Pinon, who supports drilling in the eastern Gulf and believes it can be done without hurting the environment, said China is being raised as an unnecessary "boogeyman" by drilling proponents.

"There is no actual drilling yet. ... There is exploration," said Johanna Mendelson-Forman, a senior fellow on energy and Latin America at the Center for Strategic and International Studies.

She said China's oil company, Sinopac, has conducted exploratory drilling on a lease on land in western Cuba, but is not involved in the offshore development.

But talk of China drilling in waters within 50 miles to 60 miles of Key West has been a common theme among Republicans. They are clamoring to open more of the country's offshore waters to energy development, including the eastern Gulf where drilling is strongly opposed by Florida officials.

"China, thanks to a lease issued by Cuba, is drilling for oil just 50 miles from Florida's coast," Rep. George Radanovich, R-Calif., recently wrote in The Modesto Bee in California, arguing for opening waters that have been off limits for 25 years to U.S. companies.

Radanovich's office said the congressman was in transit and not immediately available Thursday.

House Republican leader John Boehner of Ohio, calling for more domestic oil production, declared, "right at this moment some 60 miles or less off the coast of Key West, Fla., China has the green light to drill for oil."

"Even China recognizes that oil and natural gas is readily available off our shores, thanks to Fidel Castro," complained Rep. Roy Blunt of Missouri, a leader of a GOP energy task force.

Rep. Edward Markey, D-Mass., accused the Republicans of pushing oil development by "scaring up the ghosts of communism and xenophobia" and "perpetuating a myth that China is drilling off the coast of Florida."

Offline wreckhog

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From 2 weeks ago-Spain has 1 exploration well off Cuba, that's it so far
« Reply #15 on: May 19, 2010, 06:48:23 PM »
 Petrobras was to decide Cuba plans this month

* Says complex geology offshore requires more study

By Jeff Franks

HAVANA, May 6 (Reuters) - Cuba has given Brazil's state-owned oil company Petrobras (PETR4.SA) (PBR.N) a six-month extension on its May deadline to decide whether it will drill a well in Cuban waters, a Petrobras spokesman said on Thursday.

Petrobras, which has rights to one of 59 exploration blocks in Cuba's part of the Gulf of Mexico, was supposed to notify state-owned oil company Cubapetroleo (Cupet) this month of its intentions but needed more time, said spokeswoman Paula Almada.

"Given the geological complexity of the block area, it was negotiated with Cupet a six-month extension ... to finish the work of geology and geophysics," she told Reuters.

She was responding to questions sent to Joao Figueira, head of the Brazilian oil giant's Cuba operations.

Petrobras signed up for its Cuba block in October 2008 in a Havana ceremony attended by Cuba's President Raul Castro and Brazilian President Luiz Inacio Lula da Silva.

The company got what was considered a prime block, hugging Cuba's northern coast next to the island's most prolific onshore oil field at Varadero, east of Havana.

Figueira told Reuters last July that Petrobras had completed its seismic work in the block and was studying the results.

The area showed good prospects, he said, but it remained to be seen if it had sufficient accumulations of oil to make wells profitable.

"The challenge and uncertainty are related to reserve distribution, size and production per well," Figueira said.

Petrobras' involvement was seen as a boost to Cuba's hopes to finally tap into offshore fields it estimates contain 20 billion barrels of oil.

The only exploration well in its waters so far was drilled by Spanish oil company Repsol in 2004.

Repsol has not yet drilled a second well, but on Wednesday a spokeswoman for Saipem (SPMI.MI), the offshore drilling unit of Italian oil company Eni SpA (ENI.MI), told Reuters Repsol has contracted for one year a drilling rig her company has under construction in China.

She would not confirm where the rig will operate, but advertisements seeking to hire its crewmembers have said it will come to Cuba.

Repsol has declined to comment.

Offline mechanic

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Re: why BP
« Reply #16 on: May 19, 2010, 07:01:00 PM »
Molon Labe, (King Leonidas of the Spartan Army)

Offline wreckhog

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Re: why BP
« Reply #17 on: May 19, 2010, 07:09:03 PM »
I would suspect that if Cuba/China can slant drill under FL, that likewise, we can slant drill under Cuba. Maybe we are?

Offline mechanic

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Re: why BP
« Reply #18 on: May 20, 2010, 02:17:35 AM »
I would suspect that if Cuba/China can slant drill under FL, that likewise, we can slant drill under Cuba. Maybe we are?

Who knows?  Usually the populace only learns things when a problem occurs....
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