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BP to Stop Dividend, Curtail Exploration to Finance Spill Fund [Obama wrecks another industry]
uncitable ^ | 06/16/10 | Brian Swint

Posted on 06/16/2010 4:31:50 PM PDT by the invisib1e hand

Halting the $10 billion-a-year dividend, reducing investments in drilling and selling oil and gas fields will do enough to ensure the company’s financial stability, Chief Financial Officer Byron Grote said today. Credit swap contracts before the announcement showed investors pricing in a 39 percent risk of default within five years.

“This move protects the long-term [blah blah freaking blah]"



TOPICS: Business/Economy; Foreign Affairs; Government; News/Current Events
KEYWORDS: deepwaterhorizon; dueprocess; obamextortion; obamextrotion; obamunism; oilbama; omg; presidentfromhell; whatafool
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To: the invisib1e hand

Oh, and just where are the BP Board of Directors and shareholders in all this? Methinks this is all posturing by Onada. BP is playing the game for the time being. But when it finally gets a handle on its runaway well, I think it will reassert itself. If it does not, it deserves every bad thing that happens to it.


21 posted on 06/16/2010 6:01:37 PM PDT by dools007
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To: dools007

Welp. IMHO, BP pussied out and gave in to BO and his slimey friends. As far as I am concerned(not that it makes a hill of beans difference) BP can go straight to hell.


22 posted on 06/16/2010 6:06:52 PM PDT by biff
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To: All
Here's the full text of President Obama's speech about the BP disaster/gusher in the Gulf of Mexico ... from a FReeper thread ...

Obama's Remarks To Nation On Oil Spill [Full Text]

Also the Wednesday, 6/16/2010 Speech after the BP Meeting ...

Statement by the President After Meeting with BP Executives [Full Text]


23 posted on 06/16/2010 6:16:46 PM PDT by Star Traveler (Remember to keep the Messiah of Israel in the One-World Government that we look forward to coming)
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To: old curmudgeon

I agree, there are some very strange things going on. There need to be a serious investigation into this entire deal. It won’t happen until after November, if then, but it has to happen because this entire thing is too screwed up.


24 posted on 06/16/2010 6:17:13 PM PDT by WHBates
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To: biff

Please don’t misunderstand. I’m no BP fan. I’m elated that I have no stock in the company. But, I think at this point BP is just playing Onada like everyone else in the world political and economic scene. The Marxist Usurper is in way over his head.


25 posted on 06/17/2010 3:51:15 AM PDT by dools007
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To: dools007
Oh, and just where are the BP Board of Directors and shareholders in all this? Methinks this is all posturing by Onada. BP is playing the game for the time being. But when it finally gets a handle on its runaway well, I think it will reassert itself. If it does not, it deserves every bad thing that happens to it.

well said.

26 posted on 06/17/2010 12:18:16 PM PDT by the invisib1e hand (we shall overcome a generation of affirmative action.)
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To: TruthHound
How many will it take before we oust this free-market death machine?

Surely a question being asked by more of us each day.

27 posted on 06/17/2010 12:19:04 PM PDT by the invisib1e hand (we shall overcome a generation of affirmative action.)
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To: the invisib1e hand

Thank you.


28 posted on 06/17/2010 4:34:24 PM PDT by dools007
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