The View from Sugar Land - June 15

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dan_s
Posts: 34471
Joined: Fri Apr 23, 2010 8:22 am

The View from Sugar Land - June 15

Post by dan_s »

What did you think of Obama's speech?

Questions:

1. Does demonizing BP help?

2. Is putting $Billions in a slush fund that is run by the government really ensure legitimate claims get paid?

3. Using this tragedy to advance Cap & Trade, is that proper at this point?

4. Pushing a liberal "Green Agenda" while the oil is still flowing, is that good leadership?
Dan Steffens
Energy Prospectus Group
setliff
Posts: 1823
Joined: Tue Apr 27, 2010 12:15 pm

Re: The View from Sugar Land - June 15

Post by setliff »

1. Does demonizing BP help?

absolutely not---they will need $$$ to help clean up and pay claims.

2. Is putting $Billions in a slush fund that is run by the government really ensure legitimate claims get paid?

maybe

3. Using this tragedy to advance Cap & Trade, is that proper at this point?

NO! its what the extreme liberals do--take advantage of a crisis to push the agenda!

4. Pushing a liberal "Green Agenda" while the oil is still flowing, is that good leadership?

again NO!
dan_s
Posts: 34471
Joined: Fri Apr 23, 2010 8:22 am

Re: The View from Sugar Land - June 15

Post by dan_s »

From the Wall Street Journal Online: "The U.S. government, responding to widespread outrage about the accident, seems willing to consider unprecedented steps to make sure BP pays. Whether this is fair or wise remains to be seen. I think it's worth considering that a major reason the dollar is the world's reserve currency, that investors flock to Treasury bonds in times of crisis, and that people want to invest in and do business in the U.S. is the rule of law and a judicial system that is the envy of most of the world. Of course, BP and others responsible should be held accountable to the full extent of the law."

Full article:
http://finance.yahoo.com/banking-budget ... et=&ccode=

My Take: So far, BP has taken responsibility for the spill and seems willing to pay for all the clean-up and related damages. If Obama keeps pushing and it looks like a giant money grab or unwarranted "punishment" the BP Board may need to fight back to protect its shareholders from total distruction. I also think it is very important that this not become an attack against the British people. They are our country's strongest ally. Their sons and daughters are fighting side-by-side and dying with ours. Obama needs to quit worrying about his poll numbers and think long-term before he goes too far. - JMHO
Dan
Dan Steffens
Energy Prospectus Group
k1f
Posts: 455
Joined: Tue May 04, 2010 9:47 am

Re: The View from Sugar Land - June 15

Post by k1f »

How about a little reality-testing. I'm not reassured by the rhetorical puffing for BP and "British boys fighting at our side," etc.. BP blew it in more ways than one. And masking failures by industry chauvinism doesn't help any of us. As for the politics, Obama and the govt have 300+ million constituents, not just GOM investors, and many of them\ constituents are badly rattled by the GOM disaster - as you can bet Obama himself is. Like Ken Lay's tampering with regulation and the power grid, the industry has been exuding infallible confidence while some (BP, say) have apparently been cutting corners. Plainly Obama believed them and was on the side of industry since he'd been announcing expanded drilling plans. He was badly burned by BP. Since govt knew nothing about the situation a mile under the waves - and how could it? - the moratorium was a logical emergency reaction. I have no doubt that Obama & co are as eager to get the moratorium lifted as you are - hell, a decent economy is lifeblood for politicians no less than Gulf fishermen - whose lives, btw, will not be improved by lifting the ban. Fishing and other livelihoods are dead for awhile.

The moratorium is something like the overreaction to 9/11. Everybody howls about the absurdities and inconveniences. At the same time everybody is ready to blame govt for not being the omnipotent maestro that can prevent all misfortunes. Govt is always trying to pacify incompatible mobs of screaming children. Less panicky exasperation and more analysis would seem useful.

Meanwhile a nice tech overview of ATPG's Titan platform and its adnirable engineering:

http://seekingalpha.com/article/210741- ... urce=yahoo
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