Mini 14
Senior Member
- Jun 6, 2010
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Worth does not translate into Cash on had dude. That worth is based on untapped oil reserves they own, not on cash they have. They still have to drill the oil and sell it to get that money.
As far as cash on hand, They have about 7 Billion.
The fact that you think we wont notice if we have to pay for this is pretty funny considering what Obama's Debt Commission just said. We need to stop spending, and shitting out Billions for BP's Mess is not what we need now. When BP stops paying, if they do, Then I will happily Boycott their ass.
I agree with half of your last part. I do not think BP should Be given even 1 more permit to drill on US waters EVER. Give them to some American Company, Let BP go Drill in the North Sea.
Their current market cap is 125B.
They have made almost 6 Billion in profit this year alone, and that includes the expenses to date of the relief and cleanup.
Try again.
I want THEIR money to be spent cleaning up THEIR problem.
Sorry but you are completely misinformed. They do not have 125 Billion in cash. They have 6 Billion.
See oil companies re-invest Billions to get more oil to sell.
But You are right in one respect. They have more than enough assets and reserves to pay for all this, as long as we allow them to keep operating, and operating as an oil Company is expensive. I just do not see how we benefit from a boycott at this time.
Like I said the second they go back on paying up for this mess. Then we should all boycott them.
Not sure why you Capitalized Their. I have not disagreed that this is their problem. They were neglectful. They did it. Blame BP!! Just do not punish everyone to Punish BP.
Outside of me and 2 other guys, NO ONE on the face of the earth uses cash any more. Trust me, if they had to come up with 50B in cash tomorrow, they would.