[NapalmK]

I was browsing the interwebs and came across this. I honestly didn't realize how much money BP had lost due to the Deep Horizon fiasco. It's really quite impressive and puts it into perspective.
 
Anyway, here's the link.
http://www.visualeconomics.com/what-bp-could-have-bought-with-all-the-money-they-lost/
 
Note it doesn't include cleanup costs just the loss from stock.

 

[Uncle Erik]

I still worry that we're going to get stuck with the bill. I would not be surprised if BP dissolves with the profitable parts going to other companies on the cheap while the mess gets socialized to the taxpayers.

 

[krmathis]

Anyone care for a new job?
BP is looking to hire a new spokesperson to serve as the chief media contact for the oil giant's Gulf Coast clean-up efforts.

 
http://money.cnn.com/2010/07/30/news/companies/BP_spokesperson_worst_job_on_earth/index.htm

 

[earthpeople]

Interesting, I didn't even expect some of those. Especially the last two, heh.

 

[NapalmK]

Quote:

I still worry that we're going to get stuck with the bill. I would not be surprised if BP dissolves with the profitable parts going to other companies on the cheap while the mess gets socialized to the taxpayers.

I know what you mean. Maybe I'm too optimistic but I don't think BP will dissolve (as long as they're smart about it) as they are reasonably solid and their recent quarterly report wasn't as bad as expected so they should be able to weather this as long as nothing else major happens to them. However, it is a major blow to them even without potential fines so they will be pretty well crippled for a while. There should be some changes coming for the oil industry though.

 

[beerguy0]

Yeah, they probably could have bought the rest of Congress.

 

[frozenice]

Quote:

Quote:

I know what you mean. Maybe I'm too optimistic but I don't think BP will dissolve (as long as they're smart about it) as they are reasonably solid and their recent quarterly report wasn't as bad as expected so they should be able to weather this as long as nothing else major happens to them. However, it is a major blow to them even without potential fines so they will be pretty well crippled for a while. There should be some changes coming for the oil industry though.

Why would they dissolve the whole company when the only problem they have is with a small part of their U.S. operations?
 
I expect them to sell off their U.S. operations as soon as the gulf problem is fixed not because of any liability risks or cost issues but because of the long term damage to their share price and their reputation if they stay in the U.S.. 
 

 

[rhythmdevils]

Quote:

Yeah, they probably could have bought the rest of Congress.

the rest?  I don't think 2 senators is that expensive

 

[NapalmK]

Quote:

Why would they dissolve the whole company when the only problem they have is with a small part of their U.S. operations?  
I expect them to sell off their U.S. operations as soon as the gulf problem is fixed not because of any liability risks or cost issues but because of the long term damage to their share price and their reputation if they stay in the U.S.. 

They wouldn't. Sorry if I was confusing, I guess I should have stated that it was mainly the US branch that I was referring to. If anything is going to dissolve it would be the US operations. I'm not sure their image will be tainted too terribly bad in the long term. Of course it will take a lot of time to regain trust but I don't think their business will be hurt too bad. The US operations are still profitable so I don't see them exiting the market anytime soon.

 

[headbob]

Ice cream sandwiches and wolf t-shirts?  All right!
 
But really, that's scary.  12 digits?  What do you call that? (million, billion, trillion...)

 

[Czilla9000]

Eh, I call BS with how they are measuring "loss". BP has not "lost" $100,000,000,000....the discounted value of liabilities is going to be nowhere near $100 billion. The reason why BP's stock has fallen is either due to overreaction or because the stock was overvalued in the first place.

 

[NapalmK]

Quote:

Eh, I call BS with how they are measuring "loss". BP has not "lost" $100,000,000,000....the discounted value of liabilities is going to be nowhere near $100 billion. The reason why BP's stock has fallen is either due to overreaction or because the stock was overvalued in the first place.

I agree. However, it makes for a better headline.

 

[rhythmdevils]

I hope all the big guys over at BP never find the headphone of their dreams.  May their ears be forever filled with the drone of a thousand blown out ibuds! 

 

[ford2]

 
 
 
Just remember that any changes to oil companies result in higher pump prices,it matters not what happens,the end result is that we all will pay for it.
 
And so we should,we are all very happy to use it in abundance,but do not like paying to much for it.
 
It is not the oil companies that pollute, it is us the user.

 

[Omega]

This is misleading.  It isn't comparing against the cost of cleanup or even lost opportunity cost...but the temporary blip in BP stock.  It is more reflective of investor confidence in a troubled oil giant than what it is represented to be.  But hey, who am I to read the disclaimers, when the point of the infographic is clearly shock value?