$20 Billion, BO & BP

[bikerbeans]

Looks like the folks at Big Petroleum decided to give BO $20,000,000,000.00 to play with.  Let me guess where all that money will come from;

1. BP executive pension fund and profit sharing,
2. Reduced salaries for all BP employees,
3. Reduced dividends to BP shareholders,
4. Higher prices at the pump for guys that have to work for a livin'.

Me thinks it might just be option #4.

BB

[billy_56081]

I'm thinkin #4 also. That is problem nowadays folks don't understand that when you fine a corporation, the customers are the ones payong the fine. Jail guilty partys, yes fine corporations, no.

[jimster]

BP decided to give that much money is right, because I do believe there is some legislation already in place that says these oil companies only have to pay 75 million for damages, tax payers pick up the rest. That I think was signed by Clinton and the republicans and democrats way back when. Oil Spill Liability Trust Fund I think it's called?  There is lot's of things out there they ain't reporting.  BP has a lot to answer for, but our government was very willing partners, collecting royalties to boot, and telling oil compaines where to go as well.

The real bad part is, BO getting the cash...there goes any chance of getting it to the people who deserve it. They will get nothing but red tape, and be told what to do with anything they MIGHT get.  Won't be any cash for them, not after the government gets it's hands on it.

BP could also file bankruptcy down the road as well...either way, the people won't get a dime, and we will pay the bill per old legislation, or just pay the bill because nobody else will. And if BO is waiting to find out what went wrong here before anyone gets to drill anymore, you won't be drilling...they still don't know what happened in 1979 form that big one.  (PEMEX)

What we get from here on in is a lot more politics, and a lot better positioning of the progressive movements to pass more legislation before we can boot them out. Don't think this is going to be pretty at all.
  

[wreckhog]

I'm thinkin #4 also. That is problem nowadays folks don't understand that when you fine a corporation, the customers are the ones payong the fine. Jail guilty partys, yes fine corporations, no.

I boycotted BP pumps since they appeared to be at fault. Let em raise their prices, I'll go to Sunoco.

[billy_56081]

  , Wreckhog you crack me up, everybody knows that the gas for all the different gas stations comes from the same refnery. You did know that didn't you?

[wreckhog]

BP decided to give that much money is right, because I do believe there is some legislation already in place that says these oil companies only have to pay 75 million for damages, tax payers pick up the rest. That I think was signed by Clinton and the republicans and democrats way back when. Oil Spill Liability Trust Fund I think it's called?  There is lot's of things out there they ain't reporting.  BP has a lot to answer for, but our government was very willing partners, collecting royalties to boot, and telling oil compaines where to go as well.

The real bad part is, BO getting the cash...there goes any chance of getting it to the people who deserve it. They will get nothing but red tape, and be told what to do with anything they MIGHT get.  Won't be any cash for them, not after the government gets it's hands on it.

BP could also file bankruptcy down the road as well...either way, the people won't get a dime, and we will pay the bill per old legislation, or just pay the bill because nobody else will. And if BO is waiting to find out what went wrong here before anyone gets to drill anymore, you won't be drilling...they still don't know what happened in 1979 form that big one.  (PEMEX)

What we get from here on in is a lot more politics, and a lot better positioning of the progressive movements to pass more legislation before we can boot them out. Don't think this is going to be pretty at all.
  

The money is going into escrow, not Obama's checking account. What will happen is that every lawyer and law student in America will take a shot at it. Eventually what is left will get paid out in some class action suit to anyone that can fill out a form. The lawyers will get paid, of that I have no doubt. I hope BP washes away and it never hear from again.

[wreckhog]

, Wreckhog you crack me up, everybody knows that the gas for all the different gas stations comes from the same refnery. You did know that didn't you?

Where is that refinery again?

[billy_56081]

, Wreckhog you crack me up, everybody knows that the gas for all the different gas stations comes from the same refnery. You did know that didn't you?

Where is that refinery again?

Well just one of the many is the Coke refinery in Minnesota. You did know this didn't you? 

[wreckhog]

BP stations are contractually obligated to sell BP gas. Likewise for the other big names. Independents can sell any gas. They can choose not to buy overpriced gas.

The boycotts are encouraging gas stations to drop the BP signage, thus slowly but surely eliminating BP from the world.

[billy_56081]

The same trucks from the refineries stop at BP, Mobil, mom and pop. 

[wreckhog]

The same trucks from the refineries stop at BP, Mobil, mom and pop. 

Do it on the same run, and either BP or Mobil gas stations are breaking contracts.

[billy_56081]

Wreckhog do you do much transporting of gas to gas stations? 

[torpedoman]

giving the government money is like giving your teen the car keys and a fifth of whiskey

[torpedoman]

The same trucks from the refineries stop at BP, Mobil, mom and pop. 

Do it on the same run, and either BP or Mobil gas stations are breaking contracts.

Did it all the time 25 yrs ago when i was making those deliveries.

[wreckhog]

The same trucks from the refineries stop at BP, Mobil, mom and pop. 

Do it on the same run, and either BP or Mobil gas stations are breaking contracts.

Did it all the time 25 yrs ago when i was making those deliveries.

Were you dring a BP marked truck or a Mobil marked truck?

[beerbelly]

Independents can sell any gas

As near as I can tell there has not been an independent gas station for years. The big oil company’s put them  all out of business years ago. They did this to stop them from under selling the company owned stations.
   If you have noticed when gas goes up a nickel a gallon , it does so at every station!
   We used to have gas wars, where the stations would under cut the next guys price to get more business. There is no longer any competition, as the major oil companies own all the stations and the prices are rigged.
                                       Beerbelly

[Dixie Dude]

Gasoline is gasoline no mater who refines it.  The different companies do add additives at the station when delivering.  Some to increase the octane level, some cleaners, etc.  That is the only difference.  If you buy cheap gas, it may not have additives, which you can do your self by going to an auto store.  The gas is metered at delivery to the different owners for payment.  There are only so many cross country pipelines and so many refineries.  We buy natural gas from several suppliers, but one cross country pipeline supplier.  The supplier charges us a transport fee.  
For instance, Exxon may own the oil rig, Chevron may buy the oil to refine, they sell it to Mobil who may own the pipeline, who sells it to a local BP station.  It is all a mater of metering, selling, and paperwork. 

[powderman]

I'm sure all the gas does come from the same place as has been said here, but I still buy nothing from BP because they are still getting the money from the individual stations. POWDERMAN. 

[Dixie Dude]

Not buying BP gas could backfire on us.  If they go bankrupt, the the Feds will have to pay for what is left, also anyone who had BP stock in their 401(k)'s will be hurt.  So, it will end up coming out of our pocket anyways.  At least if they stay solvent, pay the bills, then they can get back to paying their investors with retirement accounts and keep their 30,000 American employees working.