Skip to comments.CNBC Analyst: BP to Lose Offshore Leases, Faces Bar from Government Contracts
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?"
(Excerpt) Read more at newsbusters.org ...
First NASA, now BP? Houston, we have a problem
Obozo is certifiable.
I’m sure $oro$ is grinning like a Cheshire cat.
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.
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.
They are no doubt mobilizing forces to dismantle rigs as we type.
Zero has begun the next offensive on America: Houston
Was O’s return of Churchill’s bust to the UK the beginning of the end of relations with Britain?
That ouoght to enhance the cleanup of the beaches, marshes, and fishing grounds.
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.
This administration is looking for any avenue whatsoever to defund the West. Lets not feed that appetite.
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?
He blamed the banks, moved on to the insurance companies, the pharmaceutical companies and now the oil companies.
I know - how is BP supposed to pay for all the clean up if they are bankrupt?
> 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 ?
Anybody knoe how many BP Employees and Employees of BP Support or Supplier Companies would hit the unemployment line if this happened?
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.
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?
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.
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?).
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”.
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.
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.
“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.
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.
“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.
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.
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
We are on the same page...
Too bad the majority of “Americans” are not.
Stop making sense!