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CNBC Analyst: BP to Lose Offshore Leases, Faces Bar from Government Contracts
Newsbusters ^ | June 15, 2010 | Jeff Poor

Posted on 06/15/2010 6:53:57 AM PDT by Rufus2007

With the federal government - both on Capitol Hill and in the White House - beginning to take investigative and punitive action against BP (NYSE:BP), the future of the company, at least in the United States, is in peril.

On CNBC's June 14 "The Kudlow Report," John Kilduff, a CNBC contributor and the vice president of MF Global was asked by host Larry Kudlow about a potential debarment from eligibility to be awarded government contracts, which have been very lucrative for the embattled oil giant.

"John, this would effectively be debarment," Kudlow said. "This is something we talked about a week ago, and the prevailing attitude was there would not be debarment because that hardly ever happens in American commercial history. Is President Obama having this as a Sword of Damocles over BP?"

...more (w/video)...

(Excerpt) Read more at newsbusters.org ...


TOPICS: Business/Economy; Constitution/Conservatism; Crime/Corruption; News/Current Events
KEYWORDS: bp; larrykudlow; oilspill
Something tells me things are about to get significantly more expensive at the gas pump...
1 posted on 06/15/2010 6:53:57 AM PDT by Rufus2007
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To: Rufus2007

First NASA, now BP? Houston, we have a problem


2 posted on 06/15/2010 6:55:16 AM PDT by WhyisaTexasgirlinPA (I'd rather drink Tea than Koolaid)
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To: Rufus2007

Obozo is certifiable.


3 posted on 06/15/2010 6:55:22 AM PDT by sarasota
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To: Rufus2007

I’m sure $oro$ is grinning like a Cheshire cat.


4 posted on 06/15/2010 6:56:44 AM PDT by RushIsMyTeddyBear (I don't have a 'Cousin Pookie'.)
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To: Rufus2007

I’m sure this will create opportunities for Chinese and Brazilian companies to take over the oil leases in US coastal areas. Count on it.


5 posted on 06/15/2010 6:58:05 AM PDT by BigBobber
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To: RushIsMyTeddyBear

kicking his friends butt.huh? BP the largest contributor to obama. So this is not really a kicking session but a spanking among friends. thank you sir may i have another.


6 posted on 06/15/2010 6:59:49 AM PDT by truthbetold11 (truthbetold11)
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To: BigBobber

They are no doubt mobilizing forces to dismantle rigs as we type.


7 posted on 06/15/2010 6:59:54 AM PDT by sarasota
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To: WhyisaTexasgirlinPA

Zero has begun the next offensive on America: Houston


8 posted on 06/15/2010 7:00:26 AM PDT by SecondAmendment (Restoring our Republic one Post at a Time)
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To: Rufus2007
This isn't about an oil spill, it is about Capitalism....and how to rid a free country from it. The Marxist as posed to nationalize one more free enterprise.
9 posted on 06/15/2010 7:00:43 AM PDT by yoe (The "N" word stands for NO...as in NO MORE VOTES FOR IRRESPONSIBLE CONGRESSMEN OR SENATORS.The new)
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To: truthbetold11

Was O’s return of Churchill’s bust to the UK the beginning of the end of relations with Britain?


10 posted on 06/15/2010 7:01:03 AM PDT by sarasota
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To: WhyisaTexasgirlinPA
There are no rocket scientists in this Administration. Their plan: Bankrupt BP and then have them spend money they won't have.
11 posted on 06/15/2010 7:02:13 AM PDT by JIM O
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To: Rufus2007

That ouoght to enhance the cleanup of the beaches, marshes, and fishing grounds.


12 posted on 06/15/2010 7:02:58 AM PDT by Carley (For those who fought for it, freedom has a flavor the protected will never know.)
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To: Rufus2007

BP is trying to stop the leak, and is willing to reimburse the entities that have been damaged by it.

So now Obama wants to defund it.

Folks, some of us here have demonized BP to the point of absurdity over the last two months. Yes, it deserved to be taken to task. Yes it should have suffered the embarrassment of people blaming it for what took place. It was to blame. Well, here were are. BP may be frozen out of the U. S.

That’s going to be a big hit to B. P. So now who is going to reimburse entities with losses in the U. S.?

I tried to tell you not to buy into the demonization of B. P. I tried to tell you that could backfire big-time. I hope I was wrong, but we may be seeing B. P. essentially prevented from honoring it’s obligations.

Mission accomplished.

This administration is looking for any avenue whatsoever to defund the West. Lets not feed that appetite.


13 posted on 06/15/2010 7:03:23 AM PDT by DoughtyOne (J. D. Hayworth, the next Senator, the Great State of Arizona - Sen. Poopdeck, Panama is calling...)
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To: SecondAmendment

I’m doing my best to spread the word that cap and trade is just a new “wall street” based in chicago that trades imaginary carbon credits... most people have NO IDEA what this bill is about and what it will cost us. This oil spill played perfectly into the hands of this bill. Odd huh?


14 posted on 06/15/2010 7:03:37 AM PDT by WhyisaTexasgirlinPA (I'd rather drink Tea than Koolaid)
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To: sarasota

No doubt.


15 posted on 06/15/2010 7:03:49 AM PDT by Eric in the Ozarks (Impeachment !)
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To: WhyisaTexasgirlinPA

He blamed the banks, moved on to the insurance companies, the pharmaceutical companies and now the oil companies.


16 posted on 06/15/2010 7:03:57 AM PDT by Carley (For those who fought for it, freedom has a flavor the protected will never know.)
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To: JIM O

I know - how is BP supposed to pay for all the clean up if they are bankrupt?


17 posted on 06/15/2010 7:04:20 AM PDT by WhyisaTexasgirlinPA (I'd rather drink Tea than Koolaid)
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To: BigBobber
Which oil/gas company was the next biggest Obama contributor? If they get the leases something stinks!
18 posted on 06/15/2010 7:05:31 AM PDT by WellyP
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To: WhyisaTexasgirlinPA

>
> This oil spill played perfectly into the hands of this
> bill. Odd huh?
>

Just like Zero getting a total economic collapse at just the right time to win the Presidency ?


19 posted on 06/15/2010 7:07:35 AM PDT by SecondAmendment (Restoring our Republic one Post at a Time)
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To: Rufus2007

Anybody knoe how many BP Employees and Employees of BP Support or Supplier Companies would hit the unemployment line if this happened?


20 posted on 06/15/2010 7:07:36 AM PDT by Old Retired Army Guy (tHE)
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To: Rufus2007

None of this makes sense at any level and it will be a Loooong time before the mess gets cleaned up. Obama? huh! Lacks any and all facility to deal with this issue.


21 posted on 06/15/2010 7:08:37 AM PDT by himno hero
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To: Rufus2007

I think so.

That means ARCO and AMOCO will lose drilling rights too as subsidiaries of BP?

Is BP developing the Alaska fields?

ARCO & Amoco is owned by BP, a British company. CITGO is owned by PDVSA (The country of Venezuela). Shell Oil Company is a subsidiary of Royal Dutch Shell, a Dutch company. Chevron (also Texaco) is a US corporation. Exxon/Mobil is a US corporation.

Looks like the US doesn’t have much left these days as majority are foreign owned companies. Guess if we nationalize we’ll get some of our stuff back ... but would we be any better off?


22 posted on 06/15/2010 7:10:29 AM PDT by K-oneTexas (I'm not a judge and there ain't enough of me to be a jury. (Zell Miller, A National Party No More))
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To: himno hero
Car companies
Banking
Insurance
Health care
Oil

He's picking them off one by one.
I expect a major food crisis at some point. All farmers should be working for the government in order to ensure food safety. For the children.

23 posted on 06/15/2010 7:18:28 AM PDT by ClearCase_guy
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To: ClearCase_guy

When is he going to learn that does not create jobs? Just larger Government? And as long as he does that, there is no one paying taxes to float his bullship.

But then again, its not about the welfare of Americans, its about bankrupting “Satan” (thats what muslims call America isnt it?).


24 posted on 06/15/2010 7:24:39 AM PDT by himno hero
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To: DoughtyOne

Amen.


25 posted on 06/15/2010 7:27:44 AM PDT by sarasota
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To: Rufus2007

Something tells me things are about to get significantly more expensive at the gas pump...

YOu are no doubt correct. Look at the silver lining though.
When gas moves to 4, 5, 6 bucks a gallon, Obama and the Democrats are gonna absolutley OWN IT, lock, stock and barrel! As the song says, there will be “no place to run to, no place to hide”.


26 posted on 06/15/2010 7:29:34 AM PDT by Buckeye McFrog
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To: sarasota

Thanks Sarasota.


27 posted on 06/15/2010 7:33:26 AM PDT by DoughtyOne (J. D. Hayworth, the next Senator, the Great State of Arizona - Sen. Poopdeck, Panama is calling...)
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To: truthbetold11

Can you imagine just how pissed the board of BP is now?
They gave big piles of cash to the guy who is going to ruin them.


28 posted on 06/15/2010 7:33:53 AM PDT by Texas resident (Outlaw fisherman)
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To: himno hero
When is he going to learn that does not create jobs?

Why would he care about that? His goal is the destruction of the US as a world power. Our military, our economy, our diplomatic standing -- all of these are under attack from within. He outrages our allies (Israel, the UK) and he strengthens our enemies (Islamic terrorists, China, Russia).

It's over for us. War is coming. Then we rebuild.

29 posted on 06/15/2010 7:44:48 AM PDT by ClearCase_guy
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To: Carley

Good point


30 posted on 06/15/2010 7:45:35 AM PDT by WhyisaTexasgirlinPA (I'd rather drink Tea than Koolaid)
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To: ClearCase_guy

“Why would he care about that? His goal is the destruction of the US as a world power.”

Without realizing that in the event of a takeover by the Chiense or Russians, he and his entertainment buddies would be at the bottom of the barrel.


31 posted on 06/15/2010 7:49:40 AM PDT by Niuhuru (The Internet is the digital AIDS; adapting and successfully destroying the MSM host.)
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To: Niuhuru
In the movie "Die Hard", there is a coke snorting MBA-type who tries to make a deal with the terrorists. He's all full of himself -- he's a dealmaker! He's ready to talk turkey! Everyone's going to come out a winner! Right, baby?

They shoot him in the head pretty early in the conversation.

These fools think they can ride the whirlwind and stay on top. Nope. The people who hate "people like you" actually really hate people like you. Surprise. It's a predictable pattern. I have great confidence that Obama will follow in the footsteps of Ceaucescu.

32 posted on 06/15/2010 7:56:43 AM PDT by ClearCase_guy
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To: ClearCase_guy

“In the movie “Die Hard”, there is a coke snorting MBA-type who tries to make a deal with the terrorists. He’s all full of himself — he’s a dealmaker! He’s ready to talk turkey! Everyone’s going to come out a winner! Right, baby?”

Just like celebrities. Putin would make mincemeat out of the actors and whores of the actresses. Not that they aren’t already.


33 posted on 06/15/2010 7:58:28 AM PDT by Niuhuru (The Internet is the digital AIDS; adapting and successfully destroying the MSM host.)
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To: Rufus2007
Hey Britain?


34 posted on 06/15/2010 7:59:45 AM PDT by dfwgator
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To: Rufus2007
We are sooooooo screwed.
35 posted on 06/15/2010 8:00:23 AM PDT by Arrowhead1952 (Remember in November. Clean the house on Nov. 2. / Progressive is a PC word for liberal democrat.)
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To: WhyisaTexasgirlinPA

BP will take their deep water floating wells to other places. Like off Cuba. Same for other deep water drillers. And when they go, bye bye for a long time.


36 posted on 06/15/2010 8:02:00 AM PDT by Pit1 (Not illegal immigrants. They are CRIMINAL BORDER CROSSERS.)
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To: truthbetold11

It’s possible the big fish in the BP pond won’t be hurt too much by this - let’s see how many are offered new positions with hefty stocks options at Petrobras.

The workers and the taxpayers are gonna pay out the wazoo though


37 posted on 06/15/2010 8:08:39 AM PDT by justsaynomore (The Hermantor - 2012 - www.hermancain.com)
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To: ClearCase_guy

Pal?

We are on the same page...

Too bad the majority of “Americans” are not.


38 posted on 06/15/2010 11:45:58 AM PDT by himno hero
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To: WhyisaTexasgirlinPA

Stop making sense!


39 posted on 06/15/2010 5:42:33 PM PDT by pingman (Price is what you pay, value is what you get.)
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