Are You Boycotting BP?
06-02-2010 | 10:58 AM
#1
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From: Buddhist Monastery, High Himalaya Mtns. of Tibet
Are You Boycotting BP?
Expert: BP Boycott Won't Hurt Company
http://cbs2chicago.com/local/bp.boyc...2.1727295.html
Clips from the article:
The Rev. Jesse Jackson says he wants consumers to boycott BP.
"It's not gonna hurt them," said oil industry analyst Phil Flynn. "It's gonna hurt the people that bought the BP franchises."
People like Max Mahkri, who signed a 7-year deal back in December when BP finished unloading all its company-owned stations to private operators.
"It's just individual owners like us, who has a family to support, who has people to work," Mahkri said.
Mahkri employs 19 people to staff the 20-hour-a-day location, paying their salaries with an 8 to 12 cent a gallon mark-up.
Though in the end, Flynn says a boycott may not have any impact at all.
"You may be buying BP gas at a different station, under a different brand," said Flynn.
In other words, there's no way to know for sure if you're buying BP gasoline.
So BP's got you one way or another. Their station owners, on the other hand, stand to lose not only their small margin gas sales, but also their much more lucrative food, beverage and convenience item business.
-----------------
Disclosure: I have, in the past, worked as a contractor for BP. The last time was 9 months ago.
http://cbs2chicago.com/local/bp.boyc...2.1727295.html
Clips from the article:
The Rev. Jesse Jackson says he wants consumers to boycott BP.
"It's not gonna hurt them," said oil industry analyst Phil Flynn. "It's gonna hurt the people that bought the BP franchises."
People like Max Mahkri, who signed a 7-year deal back in December when BP finished unloading all its company-owned stations to private operators.
"It's just individual owners like us, who has a family to support, who has people to work," Mahkri said.
Mahkri employs 19 people to staff the 20-hour-a-day location, paying their salaries with an 8 to 12 cent a gallon mark-up.
Though in the end, Flynn says a boycott may not have any impact at all.
"You may be buying BP gas at a different station, under a different brand," said Flynn.
In other words, there's no way to know for sure if you're buying BP gasoline.
So BP's got you one way or another. Their station owners, on the other hand, stand to lose not only their small margin gas sales, but also their much more lucrative food, beverage and convenience item business.
-----------------
Disclosure: I have, in the past, worked as a contractor for BP. The last time was 9 months ago.
06-02-2010 | 11:10 AM
#3
Agreed, no reason to hurt the station owners specifically.
That being said, I don't think it matters on our end. BP is finished. Their stations and fuel will live on in whatever company buys them, but they will not be able to recover from this. Exxon took 20+(?) years to recover from Valdez, if they really have at all, and that was a massive spill that was relatively contained by a geologically small bay. Sure, it crippled the people of Valdez, and that is lamentable, but the length of affected coastline and the number of affected people, and the size of the affect on individual industries was negligible compared to this mess.
From up to several thousand miles of coast line to protect and/or clean up, entire fishing/seafood industries and tourism industries (seashore and cruise) crippled. And that is just if it stays in the gulf by some miracle. If it gets carried up the east coast...
And hurricane season is about to start. Imagine another Katrina, only this time, the flooding includes an oil coating, oil in the rain, the currents and seas whipping the oil around.
The cleanup costs and lawsuits alone will completely sink them financially even if nothing else does. I expect that they will have to sell off nearly all of their assets to cover it.
That being said, I don't think it matters on our end. BP is finished. Their stations and fuel will live on in whatever company buys them, but they will not be able to recover from this. Exxon took 20+(?) years to recover from Valdez, if they really have at all, and that was a massive spill that was relatively contained by a geologically small bay. Sure, it crippled the people of Valdez, and that is lamentable, but the length of affected coastline and the number of affected people, and the size of the affect on individual industries was negligible compared to this mess.
From up to several thousand miles of coast line to protect and/or clean up, entire fishing/seafood industries and tourism industries (seashore and cruise) crippled. And that is just if it stays in the gulf by some miracle. If it gets carried up the east coast...
And hurricane season is about to start. Imagine another Katrina, only this time, the flooding includes an oil coating, oil in the rain, the currents and seas whipping the oil around.
The cleanup costs and lawsuits alone will completely sink them financially even if nothing else does. I expect that they will have to sell off nearly all of their assets to cover it.
06-02-2010 | 05:59 PM
#4
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HAHAHA!
BP is a HUGE international company. This spill will not even make a 2% bump in their bottom line.
Nor are they really the ones at fault. The drilling company that didn't allow the concrete to set for the proper length of time are at fault.
But because BP was leasing this well they are stuck with the blame.
boycotting the company will do nothing.
BP is a HUGE international company. This spill will not even make a 2% bump in their bottom line.
Nor are they really the ones at fault. The drilling company that didn't allow the concrete to set for the proper length of time are at fault.
But because BP was leasing this well they are stuck with the blame.
boycotting the company will do nothing.
06-02-2010 | 06:10 PM
#5
HAHAHA!
BP is a HUGE international company. This spill will not even make a 2% bump in their bottom line.
Nor are they really the ones at fault. The drilling company that didn't allow the concrete to set for the proper length of time are at fault.
But because BP was leasing this well they are stuck with the blame.
boycotting the company will do nothing.
BP is a HUGE international company. This spill will not even make a 2% bump in their bottom line.
Nor are they really the ones at fault. The drilling company that didn't allow the concrete to set for the proper length of time are at fault.
But because BP was leasing this well they are stuck with the blame.
boycotting the company will do nothing.
06-02-2010 | 06:13 PM
#6
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06-02-2010 | 06:19 PM
#7
Rotary Rambler
Joined: Mar 2009
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As for the Boycott... Its an Idiotic idea started and promoted by Idiots (Rev. Jesse Jackson)
+1 on the only using Shell for me at any-rate
Last edited by Burton; 06-02-2010 at 06:22 PM.
06-02-2010 | 06:23 PM
#8
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I could not disagree with you more... This is going to cost BP BILLIONS, even though they are not at direct fault they are partly responsible and are going to pay out the *** for the cleanup and restitution to fishing companies and coastal property owners.
As for the Boycott its an Idiotic idea.
+on the only using Shell for me at anyrate
As for the Boycott its an Idiotic idea.
+on the only using Shell for me at anyrate
Of COURSE IT'S GOING TO COST BILLIONS...
But do you truly comprehend just how much a international energy company such as BP not only GROSSES a year but NETS?
Profits will take a hit but it won't kill this company.
This isn't the local garage with an epa nightmare. This company makes more money a year than a large number of COUNTRIES.
06-02-2010 | 06:26 PM
#9
They are already passing $1 billion, and it isn't even shut off yet.
Stock alone has plummeted 32% in the past month, and I don't know enough to calculate how much that has cost BP by itself. And that will continue. Stock alone could cripple them.
Granted, I agree, the BP stations, resources, oil fields, infrastructure will survive, and probably alot of the employees, but not under the BP name.
Stock alone has plummeted 32% in the past month, and I don't know enough to calculate how much that has cost BP by itself. And that will continue. Stock alone could cripple them.
Granted, I agree, the BP stations, resources, oil fields, infrastructure will survive, and probably alot of the employees, but not under the BP name.
06-02-2010 | 06:28 PM
#11
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From: Norwood, NJ
FWIW, their net income was 16.58 billion USD in 2009.* Their equity is 101.6 billion USD.*
My opinion is that they will be fine financially, but it will take a long time for them to recover the sheen on their brand. Being taken over is a possibility too.
I can see the lawyers drooling all over this. Mucho dinero.
* http://en.wikipedia.org/wiki/Bp
My opinion is that they will be fine financially, but it will take a long time for them to recover the sheen on their brand. Being taken over is a possibility too.
I can see the lawyers drooling all over this. Mucho dinero.
* http://en.wikipedia.org/wiki/Bp
06-02-2010 | 06:35 PM
#12
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FWIW, their net income was 16.58 billion USD in 2009.* Their equity is 101.6 billion USD.*
My opinion is that they will be fine financially, but it will take a long time for them to recover the sheen on their brand. Being taken over is a possibility too.
I can see the lawyers drooling all over this. Mucho dinero.
* http://en.wikipedia.org/wiki/Bp
My opinion is that they will be fine financially, but it will take a long time for them to recover the sheen on their brand. Being taken over is a possibility too.
I can see the lawyers drooling all over this. Mucho dinero.
* http://en.wikipedia.org/wiki/Bp
My point exactly. BP will be fine. A dip in profits but not the end of the world.
06-02-2010 | 06:35 PM
#13
15% stock drop yesterday alone. A loss of approximately $75 billion.
http://www.nytimes.com/2010/06/02/us...?src=me&ref=us
There is 75% of their equity.
IN 1 DAY
And the lawsuits haven't even been addressed yet. And there are reportedly 26,000 lawsuits already filed.
That is individual lawsuits. Any takers that there isn't a single one under $1 million?
So lets add up:
$75 billion loss yesterday in stock + $1 billion attempted stoppage cost so far + $26 billion minimum in lawsuits = $101 billion.
There goes the equity.
Granted, the article does state several points that BP should be able to survive it financially, but it is also increasingly a target of a hostile takeover, which is what I expect will happen. BP will cease to exist once that occurs. BP the name, not BP the infrastructure and resources.
http://www.nytimes.com/2010/06/02/us...?src=me&ref=us
There is 75% of their equity.
IN 1 DAY
And the lawsuits haven't even been addressed yet. And there are reportedly 26,000 lawsuits already filed.
That is individual lawsuits. Any takers that there isn't a single one under $1 million?
So lets add up:
$75 billion loss yesterday in stock + $1 billion attempted stoppage cost so far + $26 billion minimum in lawsuits = $101 billion.
There goes the equity.
Granted, the article does state several points that BP should be able to survive it financially, but it is also increasingly a target of a hostile takeover, which is what I expect will happen. BP will cease to exist once that occurs. BP the name, not BP the infrastructure and resources.
06-02-2010 | 11:26 PM
#16
tjb
Joined: Mar 2006
Posts: 877
Likes: 2
From: Louisiana
06-02-2010 | 11:48 PM
#17
Agreed, no reason to hurt the station owners specifically.
That being said, I don't think it matters on our end. BP is finished. Their stations and fuel will live on in whatever company buys them, but they will not be able to recover from this. Exxon took 20+(?) years to recover from Valdez, if they really have at all, and that was a massive spill that was relatively contained by a geologically small bay. Sure, it crippled the people of Valdez, and that is lamentable, but the length of affected coastline and the number of affected people, and the size of the affect on individual industries was negligible compared to this mess.
From up to several thousand miles of coast line to protect and/or clean up, entire fishing/seafood industries and tourism industries (seashore and cruise) crippled. And that is just if it stays in the gulf by some miracle. If it gets carried up the east coast...
And hurricane season is about to start. Imagine another Katrina, only this time, the flooding includes an oil coating, oil in the rain, the currents and seas whipping the oil around.
The cleanup costs and lawsuits alone will completely sink them financially even if nothing else does. I expect that they will have to sell off nearly all of their assets to cover it.
That being said, I don't think it matters on our end. BP is finished. Their stations and fuel will live on in whatever company buys them, but they will not be able to recover from this. Exxon took 20+(?) years to recover from Valdez, if they really have at all, and that was a massive spill that was relatively contained by a geologically small bay. Sure, it crippled the people of Valdez, and that is lamentable, but the length of affected coastline and the number of affected people, and the size of the affect on individual industries was negligible compared to this mess.
From up to several thousand miles of coast line to protect and/or clean up, entire fishing/seafood industries and tourism industries (seashore and cruise) crippled. And that is just if it stays in the gulf by some miracle. If it gets carried up the east coast...
And hurricane season is about to start. Imagine another Katrina, only this time, the flooding includes an oil coating, oil in the rain, the currents and seas whipping the oil around.
The cleanup costs and lawsuits alone will completely sink them financially even if nothing else does. I expect that they will have to sell off nearly all of their assets to cover it.
i read somewhere idk where if it wasnt for the environmentalists lobbying to get oil drilling farther and farther offshore they wouldnt have so much trouble capping a 5,000 foot well such as this one. haha they're the same people complaining about the spill. sorry somewhat irrelevant but yeh just thought it was funny i stick to shell texaco and chevron (texaco n chevron=same owners i believe)oh and subscribed to see how it turns out
i wonder if a hurricane would churn the seas enough to actually make the parts per million of oil to water small enough to be insignificant hmm probably not but it sounded good for a second
oh and boycotting bp is a waste of time it may be their fault or the company who was capping it but i really dont think itll do any good why be influenced by those people who feel they make a difference that way? as they said its the franchise owners that will take the hit on that one and bp has enough problems to deal with they wont care about the stability of their franchise owners if they do at all when they dont have problems
06-03-2010 | 12:15 AM
#18
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From: Hunterdon County
15% stock drop yesterday alone. A loss of approximately $75 billion.
http://www.nytimes.com/2010/06/02/us...?src=me&ref=us
There is 75% of their equity.
IN 1 DAY
http://www.nytimes.com/2010/06/02/us...?src=me&ref=us
There is 75% of their equity.
IN 1 DAY
06-03-2010 | 08:13 AM
#20
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From: Buddhist Monastery, High Himalaya Mtns. of Tibet
oil evaporates at a low enough temp to end up as part of the rain? i read somewhere idk where if it wasn't for the environmentalists lobbying to get oil drilling farther and farther offshore they wouldn't have so much trouble capping a 5,000 foot well such as this one. haha they're the same people complaining about the spill. sorry somewhat irrelevant but yeh just thought it was funny i stick to shell Texaco and chevron (Texaco n chevron=same owners i believe)
oh and subscribed to see how it turns out
i wonder if a hurricane would churn the seas enough to actually make the parts per million of oil to water small enough to be insignificant hmm probably not but it sounded good for a second
oh and boycotting bp is a waste of time it may be their fault or the company who was capping it but i really don't think it'll do any good why be influenced by those people who feel they make a difference that way? as they said its the franchise owners that will take the hit on that one and BP has enough problems to deal with they wont care about the stability of their franchise owners if they do at all when they don't have problems
i read somewhere idk where if it wasn't for the environmentalists lobbying to get oil drilling farther and farther offshore they wouldn't have so much trouble capping a 5,000 foot well such as this one. haha they're the same people complaining about the spill. sorry somewhat irrelevant but yeh just thought it was funny i stick to shell Texaco and chevron (Texaco n chevron=same owners i believe)oh and subscribed to see how it turns out
i wonder if a hurricane would churn the seas enough to actually make the parts per million of oil to water small enough to be insignificant hmm probably not but it sounded good for a second
oh and boycotting bp is a waste of time it may be their fault or the company who was capping it but i really don't think it'll do any good why be influenced by those people who feel they make a difference that way? as they said its the franchise owners that will take the hit on that one and BP has enough problems to deal with they wont care about the stability of their franchise owners if they do at all when they don't have problems
BTW, ARCO (west coast) is another BP brand name.
06-03-2010 | 08:23 AM
#21
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From: NJ
I plan on Boycotting them immediately AFTER they clean up this crap. If you need someone to spend billions upon billions of dollars to clean up a mess, you don't take away the money. That just leaves someone else to clean it up.
That's my $.02
That's my $.02
06-03-2010 | 09:37 AM
#23
oil evaporates at a low enough temp to end up as part of the rain? i read somewhere idk where if it wasnt for the environmentalists lobbying to get oil drilling farther and farther offshore they wouldnt have so much trouble capping a 5,000 foot well such as this one. haha they're the same people complaining about the spill. sorry somewhat irrelevant but yeh just thought it was funny i stick to shell texaco and chevron (texaco n chevron=same owners i believe)
oh and subscribed to see how it turns out
i wonder if a hurricane would churn the seas enough to actually make the parts per million of oil to water small enough to be insignificant hmm probably not but it sounded good for a second
oh and boycotting bp is a waste of time it may be their fault or the company who was capping it but i really dont think itll do any good why be influenced by those people who feel they make a difference that way? as they said its the franchise owners that will take the hit on that one and bp has enough problems to deal with they wont care about the stability of their franchise owners if they do at all when they dont have problems
i read somewhere idk where if it wasnt for the environmentalists lobbying to get oil drilling farther and farther offshore they wouldnt have so much trouble capping a 5,000 foot well such as this one. haha they're the same people complaining about the spill. sorry somewhat irrelevant but yeh just thought it was funny i stick to shell texaco and chevron (texaco n chevron=same owners i believe)oh and subscribed to see how it turns out
i wonder if a hurricane would churn the seas enough to actually make the parts per million of oil to water small enough to be insignificant hmm probably not but it sounded good for a second
oh and boycotting bp is a waste of time it may be their fault or the company who was capping it but i really dont think itll do any good why be influenced by those people who feel they make a difference that way? as they said its the franchise owners that will take the hit on that one and bp has enough problems to deal with they wont care about the stability of their franchise owners if they do at all when they dont have problems
"Environmentalists" did not "make" anyone move into deeper water. Drilling companies are seeking out larger oilfields in deeper waters that were once seen as impossible to reach...guess what they can now reach them, and it wasn't because anyone "made" them go there. They saw $ and they followed it. Don't believe propaganda, it is dangerous to your brain and to everyone's health. edit <Sarah Palin Sed So> http://www.huffingtonpost.com/2010/0..._n_598977.html Please don't believe this insane woman.
They couldn't stop this leak if it happened in 200 feet of water...Don't believe me? http://www.youtube.com/watch?v=P-4oooyqe_8 Flashback from 30 years ago. Deja Vu, all over again.
Surprise surprise...I won't turn this into a political discussion, but please realize "Environmentalists" are taking EVERYONE'S future into account, not just the multi-billion dollar companies trying to cut a few corners and make a few extra billion for their "investors".
FWIW...I'm in the oil and gas industry, so I have a little at stake here.
And Shell puts ethanol in their gas here.
Last edited by ODDDOOD; 06-03-2010 at 10:05 AM.
06-03-2010 | 09:49 AM
#24
no because they operate the closest and one of the cheapest gas stations I pass on my way home from work. Honestly, **** happens and you can't prepare for everything. Yes they made mistakes with the valve things but ya know what, this could still have happened either way.
06-03-2010 | 10:23 AM
#25
Crude Oil does not evaporate. Done. Constituents of gasoline and some other hydrocarbons can evaporate. Adding dispersants to the stream of oil coming out only will cause more harm later (lets check this in 2 years...oil will be found along the coast of Europe/Greenland maybe as far as the Arctic).
"Environmentalists" did not "make" anyone move into deeper water. Drilling companies are seeking out larger oilfields in deeper waters that were once seen as impossible to reach...guess what they can now reach them, and it wasn't because anyone "made" them go there. They saw $ and they followed it. Don't believe propaganda, it is dangerous to your brain and to everyone's health. edit <Sarah Palin Sed So> http://www.huffingtonpost.com/2010/0..._n_598977.html Please don't believe this insane woman.
They couldn't stop this leak if it happened in 200 feet of water...Don't believe me? http://www.youtube.com/watch?v=P-4oooyqe_8 Flashback from 30 years ago. Deja Vu, all over again.
Surprise surprise...I won't turn this into a political discussion, but please realize "Environmentalists" are taking EVERYONE'S future into account, not just the multi-billion dollar companies trying to cut a few corners and make a few extra billion for their "investors".
FWIW...I'm in the oil and gas industry, so I have a little at stake here.
And Shell puts ethanol in their gas here.
"Environmentalists" did not "make" anyone move into deeper water. Drilling companies are seeking out larger oilfields in deeper waters that were once seen as impossible to reach...guess what they can now reach them, and it wasn't because anyone "made" them go there. They saw $ and they followed it. Don't believe propaganda, it is dangerous to your brain and to everyone's health. edit <Sarah Palin Sed So> http://www.huffingtonpost.com/2010/0..._n_598977.html Please don't believe this insane woman.
They couldn't stop this leak if it happened in 200 feet of water...Don't believe me? http://www.youtube.com/watch?v=P-4oooyqe_8 Flashback from 30 years ago. Deja Vu, all over again.
Surprise surprise...I won't turn this into a political discussion, but please realize "Environmentalists" are taking EVERYONE'S future into account, not just the multi-billion dollar companies trying to cut a few corners and make a few extra billion for their "investors".
FWIW...I'm in the oil and gas industry, so I have a little at stake here.
And Shell puts ethanol in their gas here.
thanks i am enlightened to my shortcomings on this subject.