—————————————did BP cut a deal with the Obama administration: $20 billion for a slap on the wrist concerning a criminal investigation, and tons of other goodies like cap and trade and federal bailout guarantees?————————
Your question is a very shrewd one. May the MSM fear you for a long time. :-)
Anyways, the answer to your question has already been answered.
=============This would not be a good result for anyone.” Now look at how the deal between the White House and BP is structured. BP is not handing over a $20 billion novelty check tomorrow. Instead they are set to pay $3 billion in the third quarter of this year, $2 billion in the fourth, and then $1.25 billion per quarter thereafter. In the meantime, BP has identified $20 billion worth of assets in the United States that the federal government now has a lien on. In the event of a bankruptcy, guess who gets to jump in line and have their claims honored first? Still guessing? Then ask Chrysler’s secured creditors.==========
http://blog.heritage.org/2010/06/17/morning-bell-an-offer-bp-couldnt-refuse/
It’s interesting to me to see a government so powerful it can nationalize a foreign corporation.
Granted, it hasn’t happened quite yet. But the framework is in place now. The clock is ticking and that is the goal here.
BP probably thinks it’s getting a deal by looking at it short term, from a blind corporate way of looking at it.
You’re right, Obama put them in a position where it’s to Obama’s advantage for them to go bankrupt. But it’s also in Obama’s interests to have a strong BP as a partner to push through cap and trade. Either way BP and Obama are BFF’s and this deal stinks. BP may be a victim as Barton believes, but I doubt it.