Jun 2, 2010

[MedicalConspiracies] BP share plunge wipes billions off UK pension funds:

 
I am passing on Gerald's insightful comments and the Daily Mail article about the pension impact of the BP mess - another 'cost' being over looked
 
I have said since the first week to follow the money
 
BP is making millions from the use of its own toxic dispersant and they and Transocean have received massive insurance payments from their insurance holders - owned by the bankster bailout crowd who still refuse to show where the near trillion dollar bailout went and to whom...
 
I said to look for a merger of BP to increase monopolization and possible shift of Transocean whose senior executives have had military Intel connections for its entire existence and who moved to Switzerland only recently to dodge taxes and transparency and legal rules  - they even flagged that rig to a third world country
 
People are overlooking the massive food chain impact - the nightmare destruction of environment and endangered creatures is an evil crime - but what will fall out is not only the losses to those who live and work on the coast but much of the US Midwest chicken feed includes fish meal from the New Orleans area - thus possibly tripling the cost of feed and the increased use of GMA corn - another profiteer area of the petro chemical ag complex that has a stranglehold on the food and fuel and medical elements of US life today
 
Ike and JFK were right as were all the other who tried to warn of the growing fascism in America where the govt works by and for the corporations while continuing to crush the opportunities and dreams and freedoms of the individual - unless that individual has connections or is rich or powerful.
 
No one can explain why they have not employed more professional skimmers or stopped the use of toxic dispersants and why the live data from the multiple explosions and ALL the video feeds and the US Navy sonar and video images of the oil blobs have not been released
 
There have been staged clean up photo ops and inexperienced fisherman hired to deploy complex boom systems  - and there has NOT been a full scale dredging or berm building or barrier construction - why ?
 
NO massive attempt to rescue the endangered sea turtles or brown pelican eggs or to rescue the dolphins and other mammals dying excruciating deaths as the oil and dispersants damage and burn their lungs and skin and eyes
 
Hatcheries and rookeries and estuaries are being laid sterile and barren
 
Corral and sea grasses decimated - a major source of oxygen in our atmosphere BTW
 
Billions are being paid and made to drill the two dangerous slant - so called -  relief wells - with total environmental waivers by the way....
 
The major effort has always been directed to preserving the investment in the oil pipeline NOT the environment or the fishermen or the coastal communities
 
This is criminal and the list includes malfeasants by govt as well as corporate 'leaders' who will be protected by limited liability laws, shield laws, and their own secrecy and collusion; while the ambulance chasing lawyers will profit and connected crony contractors will get the clean up and recovery contracts
 
The US govt and military deployed more assets to clean up and protect the coast off of Kuwait and Dubai then they are on our own gulf and its dying treasure of sea life
 
NOTE - an area bigger in size than 29 of the US states is now off limits to fishing and that  area -- over 75,000 square miles - 32 % of the gulf -- it  is now being turned into a dead zone of toxic dispersant  and crude oil
 
Maybe Obama knows he is a lame duck with the citizen issue and maybe that was always the intent
 
We need to find who in the legal world and scientific world  - where sadly most are all beholden to govt coffers for their grants and legal business and court access and their licenses and jobs - who has the courage to expose this ongoing crime and break up the crime syndicate that has taken over this nation and driven this once powerful land proud nation to increasing ruin and bankruptcy and fascist control

      Peace Hugs and Purrs,
carolyn rose goyda
Missouri, USA
rosegojda@aol.com

 
From: gerald

Sent: 6/2/2010 10:21:29 A.M. Central Daylight Time
Subj: [ BP share plunge wipes billions off UK pension funds:
 
Obama keeps saying B.P. will pay for the clean up, hopefully that will also include compensation for the people around the coast who are losing their jobs/businesses, but how will he manage to carry out his 'hollow' threat ?
 
The share holders, who are all collectively responsible as they are all part owners of B.P., are now selling their shares, pulling out.
The company looks liable to collapse completely, so ''voluntary liquidation' is on the cards. Its a limited liability company, so the responsibility to pay out is only valid whist they have liability, when he liquidise they shed all liability. And the main owners can open up new businesses the next day, which will include capitalising them with money left over from B.P.
 
Then Obama can only sue the leading members of the company - personally, but only if they/he can prove negligence, that it was not just accidental.
 
So the longer it goes on, the more time Obama gives them to ''escape'', he's left all the doors open. Surely as a leading member of a capitalist government he knows something about capitalist law ?
They now predict that the spill may continue till August, the repercussions of the effects on Pensions in Britain will also affect the share prices, it may even lead to a call for boycotting B.P.s filling stations by the public.
 
Obama will only gain anything from B.P if he/the government act immediately [ He seems determined to be a one term President, ostensibly with full agreement of the Democrat party.] to seize all the drilling/pumping licences from B.P. throughout the USA, which can then be ''auctioned' to any other company. They must also be prepared to seize any and all property of B.P. wherever they can. ..immediate effect is imperative........G.A.
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BP share plunge wipes billions off UK pension funds: Spill crisis deepens as U.S. starts criminal probe

By David Gardner.... 2nd June 2010
Billions wiped off the value of pension funds
BP's market value falls 17% in just one day
Company to promise shareholder dividend
Billions of pounds were wiped off BP's market value yesterday as the beleaguered company battled to shut down its massive oil leak in the Gulf of Mexico.
Speculation over BP's future mounted after its share price fell 17 per cent when London's markets opened after the holiday weekend.
Although the price recovered in the afternoon, £12billion was wiped off the value of its shares.
Billions of pounds have also been wiped off the value of pension funds due to the extraordinary decline of one of Britain's biggest companies - which is a key stock for many UK pension fund investments.
This share fall will inevitably leave Britain's pensioners poorer.
Alan Smith, pensions expert and chief executive of financial planning firm Capital Asset, said as well as being a disaster for BP it was also a disaster for pensioners.
'Most pension funds will undoubtedly have exposure to BP an will be affected by this,' he said.
'If the company were to halve in value this could lead to pension values going down by one or two per cent.
'Pretty much every pension fund in the country owns a bit of BP and it has now fallen some £45billion in value.'
He also warned that the funds would sink even further as the markets continued to struggle.
The share collapse means a £15,000-a-year pension will be cut by up to £400 a year with possibly worse to come.
Despite the plunge in BP's value, the company is still expected to promise shareholders their annual dividend will be maintained. Last year the company paid out more than £10billion.
The news came as the U.S. government launched a criminal probe into the oil spill. Federal agencies, including the FBI, are participating in the probe and 'if we find evidence of illegal behaviour, we will be forceful in our response', U.S. Attorney General Eric Holder said.
BP will begin a new and risky plan to funnel oil from the well to the surface today.
Robots will begin cutting through the top of the well's lower marine riser package, and it could take up to 72 hours to get the containment device operational.  
Damage: A map from the National Oceanic and Atmospheric Administration shows the size of the spill. Darker areas represent a thicker concentration of oil in the water
 
Yesterday's results meant the company's stock has fallen £42billion - more than a third of its value - since the fatal oilrig explosion six weeks ago.
With no end to the environmental nightmare in sight, some analysts are predicting BP may not survive.
'This situation has now gone far beyond concerns of BP's chief executive being fired, or shareholder dividend payouts being cut - it's got the real smell of death,' said Dougie Youngson, oil analyst at Arbuthnot Securities, a London-based investment banking firm. 'The key question is now "can BP survive?"
'We are very negative on the prospects for BP and this situation has a real possibility breaking the company.
'Given the collapse in the share price and the potential for it to fall further, we expect it could become a takeover target - particularly if its operating position in the U.S. becomes untenable.'
The blue chip heavyweight's decline dragged the wider market down in London, with the FTSE 100 falling 108.7 points to 5079.7.
BP boss Tony Hayward has vowed to clean up 'every drop' of oil. But the calamity has cost the company up to £700million and the eventual bill is expected to top £15billion if the leak continues into August as expected.
The London-based firm has received 30,000 insurance claims and made 15,000 payouts totalling £30million.
After abandoning the doomed top kill plan at the weekend, BP engineers were working yesterday on a new 'cut and cap' operation to siphon some of the 800,000 gallons of oil a day gushing from the undersea well up to tankers on the surface.
The initial step to sever the ruptured pipeline was expected to go ahead late last night or this morning to make it easier for a snug-fitting cap to be fitted over it.
Remote-controlled robots were being used to carry out the tricky operation.
But the White House has warned that if this latest venture fails, it could result in boosting the flow of crude by 20 per cent by removing resistance the pinched pipe may have created.
The one solution that seems likely to work - drilling relief wells to intercept the oil below the damaged well - won't be completed for two months.
About 120 miles of Louisiana coastline have been contaminated by slicks and tar balls and a quarter of fishing areas have been closed off.
With hurricane season about to hit the region, residents fear the oil could be washed inland.
President Obama yesterday vowed again that BP would pay the financial bill for the 'greatest environmental disaster of its kind in our history'.
some additional related articles thanks to Lori Price's website
 
BP Oil Leak May Last Until Christmas 02 Jun 2010  BP Plc's failure since April to plug a Gulf of Mexico oil leak has prompted forecasts the crude may continue gushing into December in what President Barack Obama has called the greatest environmental disaster in U.S. history... The ultimate worst-case scenario is that the well is never successfully plugged, said Fred Aminzadeh, a research professor at the University of Southern California's Center for Integrated Smart Oil Fields who previously worked for Unocal Corp. That would leave the well to flow for probably more than a decade, he said in a telephone interview.
 
BP Hires Former Dick Cheney Spox to Run PR Ops 01 Jun 2010 BP, struggling to maintain its image while taking responsibility for the worst oil disaster in U.S. history, has hired someone new to head its American public relations operation: Anne Womack-Kolton, the former campaign press secretary for Vice President [sic] Dick Cheney. Womack-Kolton ran Cheney's press shop during the 2004 campaign, and worked as an assistant press secretary in 2000. She was also an assistant in the White House press office. She begins today, the BP press office tells TPM.
 
U.S. Opens Criminal Inquiry Into Oil Spill 01 Jun 2010 The Obama administration said Tuesday that it had begun civil and criminal investigations into the massive oil spill in the Gulf of Mexico, as the deepening crisis threatened to define President Obama's second year in office. Attorney General Eric H. Holder Jr. said in New Orleans that he planned to "prosecute to the fullest extent of the law" any person or entity that the Justice Department determines has broken the law in connection with the oil spill.
 
Lawsuit Seeks Full Disclosure of Dispersant Impacts on Gulf's Endangered Wildlife 02 Jun 2010 The Center for Biological Diversity today filed an official notice of its intent to sue the Environmental Protection Agency for authorizing the use of toxic dispersants without ensuring that these chemicals would not harm endangered species and their habitats. The letter requests that the agency, along with the U.S. Coast Guard, immediately study the effects of dispersants on species such as sea turtles, sperm whales, piping plovers, and corals and incorporate this knowledge into oil-spill response efforts. "The Gulf of Mexico has become Frankenstein's laboratory for BP's enormous, uncontrolled experiment in flooding the ocean with toxic chemicals," said Andrea Treece, an attorney with the Center for Biological Diversity. "The fact that no one in the federal government ever required that these chemicals be proven safe for this sort of use before they were set loose on the environment is inexcusable."
 
Deep Underwater, Oil Threatens Reefs 01 Jun 2010 The reef lies just 20 miles northeast of BP's blown-out well, making it one of at least three extensive deepwater reefs lying directly beneath the oil slick in the gulf... The latest research team in the gulf to detect these plumes observed one extending roughly 22 miles northeast of the well site, in the vicinity of at least two major deepwater reefs. Preliminary images of the plume show layers of it touching the sea floor. Marine scientists have no firm grasp yet on what the impact on the corals will be, but they are bracing for catastrophe. "The worst-case scenario is that there's oil coating some of the corals," Dr. Cordes said. "It would basically suffocate them."
 
BP diamond-tipped saw fails to fix leak 02 Jun 2010 Efforts by the British Petroleum engineers to cut the ruptured riser pipe of its blown-up well in the Gulf of Mexico and contain the gushing oil have hit a snag on day 44. The underwater robot operating a diamond-tipped saw to cut the riser pipe had to stop working Wednesday after the saw stuck in the pipe. Now BP engineers have to go on with the operation either with the snared saw or by replacing it with a new one.

Not content with BP's destruction of the oceans, Obama calls for big expansion of nuclear power By Lori Price 02 Jun 2010 Obama: Oil spill another reason for 'a clean [sic] energy future' 02 Jun 2010 ...Here are excerpts of the economic speech Obama delivered Wednesday at Carnegie Mellon University. 'The time has come, once and for all, for this nation to fully embrace a clean energy future... It means tapping into our natural gas reserves, and moving ahead with our plan to expand our nation's fleet of nuclear power plants.' If George W. Bush made such a call, in the aftermath of the largest ecological disaster in US history, the so-called 'left' would be up in arms, would they not? Instead, under cover of a sycophantic, conciliatory media, Mr. Exelon aka Barack Obama gets oh-but-another pass.



 
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