Oil spill- Bp caps the oil leak

by: funso Oke
       It was a good news soon we found out that Bp was able to stop the oil gushing out the the Golf of Mexico, It took almost 3 months to do it but finally Bp got it right, and this is a good news for the presidential office of president Barack Obama. Mr president has been criticized of not putting enough pressure on bp as a result many people questioned his leadership as the head of state. With a nation of many opinions it will be hard for anyone to deal with a situation like this, even a minor home plumbing takes days to deal with but, here bp had a situation  of a plumbing gone wrong in a deep Golf of Mexico where the oil drilling was taking place. The implanted pipe and well that was suppose to contain the oil being drilled from beneath the golf busted and it cost the major oil leakage that we have ever seen in a long time. As a result it disrupted many businesses, that has its business source from the Golf of Mexico. Many livestock were affected as well, soon we learned that the new cap placed my bp stopped the leak, it was a great relief to every one, at least we know our shore and beaches are safe from crude poisoning.  Bp announced that the newly placed cap will undergo some pressure test later in the night to ensure that it will work for quite a while, at least the cap was expected to hold the oil pressure till sometimes late  august while a relief well is been drilled to collect all the oil. We expect the news to help bp stock price to raise.

BP damage Claim

Bp has set aside 20 billion dollars to settle any claims due to damages caused by the oil leak, with millions of business that are affected, many fisher men, lobster fishing farmers, cruise boats etc, many of these businesses are loosing thousands of money daily when they are not operating, they have equipment rent expenses, they are purchased goods are rendered useless, no income to pay employees, loss of jobs etc. Will the  20 billion compensation funds be enough to cover all damage expenses? last report about the business affected on cnbc news station has reported that many of these businesses that filled claims are not satisfied as Bp was unable to grant them enough funds to cover the debt they have acquired.

BP Rally despite Oil leak problem

by Funso Oke
BP added to rally today despite all the oil leak problem, the market show BP saw some green today. A lot of people has thought of BP to be close to filling bankruptcy, as the country awaits and expect the oil company to be paying out a lot of funds  in lawsuits and claims. It seem it hasn't affected the company that much, is it that they have some funds in other company that they are using to cover up for the loses? We all don't know, but we know that BP has one of the smartest CEO in the world and we are sure that he is not going to just watch the  company go down under his care, so we will guess that BP has money somewhere in crude oil company or other well publicly traded company that will be making BP money for now.

President Obama Speech about bp

     Yesterday president Obama addressed the nation about how he will deal with the oil leak. The disaster has begun for months now and it has been a major test for the office of the president, many has used this opportunity to criticize the president on how he is able to handle situations, a lot of this offensive words came from republicans who are ready to do anything to make the democrats look as bad as they did when the bush era was in government. The president promised to take action although he does not know where to start or how things will play out but he promise that the clean up will continue and BP will close the oil drilling in the golf of Mexico, he also mentioned that it is time for America to tap into our rich natural oil and that he will make sure that all the businesses affected are compensated. We believe that the president did what he could to please the people of America, but in a nation where every one has something to say and we have this motion of dislike for some reason that aren't partaking to the problem being solved, in that case it will be a hard job for Mr president to get over, infant this may cost him the reelection, we all know how the republican love to hang on to negative ads, it will be easy to foresee this type of campaign for the next presidential election.

Has the market turned more national ?

        Most of us investors are now focusing on Stock price more, so much that we distrust in the market, investors are  expressing lack of faith in the market, many analyst are saying otherwise but the fact is you see investors running to types of companies with solid balance sheets. Surprisingly some folks think BP is a buy, even with the Oil leak problem. BP's borrowing plan is now large as they hope to recover from the Oil leak damage, but there is no sign that BP will file bankrupt even though many outsider think the Oil company BP will not survive the next two year. What is your take on this topic?

MSNBC Stocks to watch to today May 25 2010

Autozone AN
comcast  cmcsa
Brithish petroleum Bp       
Goldman sach GS
Bank of America BA

Crude Oil Spill and BP.

The Crude Oil spill at the Golf of Mexico, has created problems all over. British petroleum "BP" is said to be responsible for the spill; should this be the time to point fingers or time to take action?. The Crude oil spill is currently 35 days old, all attempts to stop the crude oil leak has been unsuccessful. BP will attempt another trial to stop the leak today. According to CNN "BP's next attempt to stop the oil leak in the Gulf of Mexico will involve a maneuver called "top kill," in which heavy drilling fluid is to be pumped into the head of the leaking well at the seafloor".  We hope this procedure will be successful, is so, it will relieve the golf of Mexico from crude oil poisoning, the oil leak has done a lot of damages already, the stock market is seeing a lot of red, many live stocks are found offshore covered with crude oil, fishes are killed and fisher men's and farmers are disturbed from their daily work. If BP fail to find solution to this problem it will be a severe disaster.