BP Liability - New England Patriots Forums

PatsFanInVa · 05-27-2010, 07:16 AM

Should BP be liable for the full cost of the environmental damage caused by the gulf disaster?

I think they should.

What do you think?

PFnV

MrSparkle · 05-27-2010, 07:34 AM

Quote:

Originally Posted by PatsFanInVa

Should BP be liable for the full cost of the environmental damage caused by the gulf disaster?

I think they should.

What do you think?

PFnV

Ethically, yes.

Legally, IDK. From what I understand there is some ridiculously low amount of money they are responsible for. 75 million or so, seems to me they are well beyond that already.

What are you suggesting?

chicowalker · 05-27-2010, 07:41 AM

Yes

(I believe mrsparkles is right about the law, but I'm assuming you're not asking for interpretation of current law. That law is yet another example if the myriad subsidies and loopholes that our government offers certain companies, to go along with the myriad unnecessary regulations it imposes on other companies.

It is, imo, garbage. But, hey, drill baby drill!)

cupofjoe1962 · 05-27-2010, 07:49 AM

I think BP should pay for the entire cost of the cleanup.

I also think it is about time Obama stops sitting on his hands and does
something to address this issue. A second tour of the spill get's
nothing done.

Find the best way to stop the leak and do it.
Send the bill to BP.

If they don't want to pay.... tell them we will no longer allow them
to do business in America, until they pay for the entire cleanup.

If my suggestion is not legal.... Change the law, the constitution or
whatever needs to be changed.

I am tired of picking up the tab for business mistakes.

mcgraw_wv · 05-27-2010, 08:01 AM

It's a double edged sword. On one hand we scream and cry to these comapnies for cheap oil, in order to give us that they need protection in the form of liability caps to deliver that cheap oil.

If we were to put BP out of business with lawsuits, were looking at 10.00 a gallon.

They should have to pay for 100% of the cleanup, and restoration, and the 75 million dollar cap should be applied solely to the lawsuits brought forth to them do to destruction of property.

***apple strudel*** · 05-27-2010, 08:03 AM

Unequivocally yes. To the extent that BP ceases to exist as a profit-making entity, if necessary. Sue them to Bolivia!

***apple strudel*** · 05-27-2010, 08:04 AM

Quote:

Originally Posted by mcgraw_wv

If we were to put BP out of business with lawsuits, were looking at 10.00 a gallon.

How so? Sounds like one of those fear tactics that businesses throw out there.

mcgraw_wv · 05-27-2010, 08:07 AM

Quote:

Originally Posted by apple strudel

How so? Sounds like one of those fear tactics that businesses throw out there.

Supply and Demand...

One of the largest producers of Oil is removed from the Market... demand will exceed supply.

Basic economics.

You could then say other companies would then purchase those wells and equipment used to transport... which is true, but you would have a logistical transition period where the supply chain isn't as efficient as it once was, causing an increase in price.

***apple strudel*** · 05-27-2010, 08:08 AM

Quote:

Originally Posted by mcgraw_wv

Supply and Demand...

One of the largest producers of Oil is removed from the Market... demand will exceed supply.

Basic economics.

You could then say other companies would then purchase those wells and equipment used to transport... which is true, but you would have a logistical transition period where the supply chain isn't as efficient as it once was, causing an increase in price.

It doesn't add up - other oil companies will gobble up all the BP properties as eagerly as if Saudi Arabia was selling all of its oil fields. The supply might see a dip, but then it would continue apace. Come on. Also, BP would be producing throughout the duration of any and all lawsuits.

mcgraw_wv · 05-27-2010, 08:17 AM

Quote:

Originally Posted by apple strudel

It doesn't add up - other oil companies will gobble up all the BP properties as eagerly as if Saudi Arabia was selling all of its oil fields. The supply might see a dip, but then it would continue apace. Come on. Also, BP would be producing throughout the duration of any and all lawsuits.

Whatever you want to pretend the result would be doesn't make it true.

It would take months to sell off the refineries, and transition all the massive factories and ships, and everything else to other companies.

Your correct that eventually the price would settle back to normal levels once the supply chain is restored to today's current levels.