America. GET OFF BP,s BACK.

[Simster]

The risk to pension funds lies in the stock market performance of the company. Catastrophic.

Not really. They are minted, they have BILLIONS sloshing about. And when the time comes for a more sustainable source of fuel, they'll be in prime position to invest in it.

 

[Kalimantan Gull]

Cos the Yanks are completely out of order. Their nation is the most oil dependant in the world, some may say they have started wars over it, they have even less 'green morals' than me! But now it is on their doorstep they are whinging and looking for lawsuits. What goes around comes around.

OK then, I completely agree with you. I'm not defending the yanks, I'm taking exception at people defending the oil company. The whole lot can do 1.

We need alternatives to be sought quicker. The spill might encourage this in the US, but judging by the way so many on the right are quick to defend BP, its unlikely. Drill baby drill, burn baby burn, we ain't getting out of this one easily. Ice caps are melting so rapidly now its laughable if anyone thinks the world will be a nice and stable place to live for much longer. I guess we should just enjoy it while we can. Come on England.

 

[beorhthelm]

The question no-one seems to be asking is why British pension funds continue to put our money into such high risk companies.

because the answers are simple:
a) they return a large dividend, some funds need to seek out where the dividends are.
b) many pensions are tied to the FTSE. if you have a FTSE tracker you have to have BP. if you want to have any chance of beating the FTSE you have to have holding in many of the larger constituants to be able to get a decent baseline.
c) while oil exploration might be risky, normally oil production and refinement isnt. that why there are many smaller oil exploration companies and a few large infrasturcture heavy production companies, to seperate that risk. This wasnt exploration, it was drilling a known oil field.

 

[34064 Fighter Command]

It's simple, they export their 'Toxic' debt to us ( inthe form of AAA rated bonds ), so now we're giving them back both barrels with interest.

 

[Lincoln Imp]

The main reason that BP have our sympathy is that we are desperate to see UK pension money secure.

Oil exploration is a huge gamble. There might not be enough oil there is justify the costs of finding that out. There might be an environmental catastrophe.

The question no-one seems to be asking is why British pension funds continue to put our money into such high risk companies.

Public sector pensioners won't be directly affected by this, it's only the poor bloody infantry of the private sector who will get it in the neck as usual.

 

[CheeseRolls]

Caught the Daily Show recently where they were mixing soundbytes of Obama stating how the disaster was his number one priority, with pictures of him attending endless basketball related functions - very cutting.

However I do think we should stop being precious about the British part of BP. Other companies may have been involved, but BP were the ones who stood to make all the profits and as such should have fully covered the risk. The fact is they had no plan and still in fact have no plan and they would get bugger all sympathy if this lot was heading towards our beaches.