Goldman Sachs sold $250 million of BP stock before spill

reply to post by tooo many pills


Thanks Toomanypills for explaining that for me and making it clear for me to understand!
This subject manner has never been my strong suit in this life. However I am very much open, and egar to learn more about stocks, and how things function at this level.

While I might not be well versed upon this subject, I can read enough into all this to come to the conclusion that something is a bit fishy, would I be correct in such a thought process?

Or are the guys who make it their lives to study and know such subjects that well versed to know when a stock is going to drop like BP did?

Or are these guys doing a bit of math with alot of guesswork..
Or are they doing alot of math, with little guesswork?

You did clear up my question so again I thank you much for taking the time out to help me understand more!
Keep up the good work, and if you have the time.. Keep the information comming!
I will do my part and read up, and get to know this subject matter in a deeper sense.. I don't want you all to think you have to hold my hand through out this.. But its very helpful to have this topic put in laymans term.

Many thanks!
Zy5

A thought here the BP stock becomes junk bonds after all the inquires and legal actions from the the Obama Administration. Then Obama Administration realizes the BP is to big to fail bails them out like GM with stock transfers making the government part owner of BP like the banks car dealers and health care .

reply to post by Lostinthedarkness


British Petroleum is a British company, Obama can't and wont take them over.



reply to post by zysin5


I think if there were deaths or destruction on an important oilrig for one of the big three oil companies it would cause the stock price to drop a few dollars over a couple of weeks. If it is international news like it is in the Gulf of Mexico with a lot of damage to the ecosystem and economy, then there would be a lot more people selling and the stock price would drop significantly like it has been.

However, there is no way Goldman Sachs and the other huge trading firms could have known to sell their shares of BP right before the oil leak unless they knew something was going down. That would be insider trading and market manipulation.

Now it could have been their plan all along to buy BP in 2009 and sell BP early in 2010 when they thought the stock had reached its peak on its latest bull surge upward. But it also could have been that it was TPTB’s plan to collude together by buying huge shares of BP then ride it up to the top as far as it could go and sell. Then cause a major mishap that would sink the price of BP's stock, which would force everyone else to sell their shares or lose their money.

Because BP is such a huge, international company you would expect them to regain their value in a year or two, unless this oil leak and lawsuit get really out of hand. However, pretty much every investor in their right mind would not be willing to sit there with their investment plummeting and not sell.

I think they want it to be bad enough in the short-term to drop the price to force you to sell, but not so bad that in the long-run they ruin the company completely in our eyes. We Americans might retaliate by not pump gas at one of BP's gas stations for awhile, but other countries that aren’t as affected as us wont, nor do they have many other choices for gas. BP has a greater share of the market outside of America than they do inside. So, BP would still be one of the world’s great corporations.

If the stock price goes below 30$ or even 20$ and everyone sells their shares, then there will be a vast amount of shares sitting there unsold for a third the price they were once worth. This would set the table for TPTB to purchase many more shares for a faction of the cost to gain a greater stake in the company. And this would set them up to make boat loads of moolah when the stock price regains its form and triples back to what it was worth in the future.



[edit on 2-6-2010 by tooo many pills]

reply to post by tooo many pills

I must say, "What a great reply?" Id give you an applause if I could so I will just star your reply!
You have a great grasp on what is going on, and you explain it very well! I tend to think thats a gift to be able to convey such topics in a way that people like me who are not on the up and up can fully grasp and see it from your point of view.
This makes alot of sense to me now! And I will carry the knowledge you passed onto me into my everyday life!

These people will do just about anything to make money.. Reguardless of what kind of impact it would have on our lives, or the lives of creatures that live upon this Earth..
Sad indeed, and I hope with all my heart that this will be investigated in the time to pass..
Right now first things first.. Patch up this leak.. Then we will turn our attention to those inside traders..
I wonder if this will turn out to be another Enron like deal..

I guess we will see, watch and wait...
Until then, I will keep my eyes open! And thanks again for the direct reply!

Starred & Flagged

Good thread TS. Not surprised this isn't getting enough attention in light of the little orchestrated flotilla incident distractions. This situation is reminiscent of the put options before 9/11

My theory is that with the man made Climate change/Global Warming theories being patently debunked and proven to be a fraud it seemed as though envirolegislation(carbon taxes) was almost doomed on arrival.

Now we all of a sudden have an environmental crises and it was reported today that Obama will be using the crisis to push Clean energy policy.
Obama uses spill to push policy

Imho this BP disaster was an inside job.

Makes me wonder if there was already a really bad leak either at this location or another location, made when BP first drilled and made the discovery of the oil field last September.

. . . Just suppose there was and they didn't tell anyone except Goldman Sachs and possibly a few others. Wasn't TransOcean shorted ONE DAY prior to the explosion? Seems awfully suspicious for Goldman Sachs to sell stock in a company set to make possibly quadrillions of dollars sucking oil from the Tiber field.

. . . Not to mention ol Dickie boy buying up the Boots and Coots Oil Spill cleanup biz (in April 2010, was it?).

. . . What if the leak we know about was a relief well attempt for an already out of control leak from the previous drilling in September 2009 or the exploratory drilling in March 2010?

. . . Makes me think we just found out about this leak because of the explosion and it and possibly another had been leaking out of control for some time before - like since March.

links I read (among others)

www.deepwater.com...

TransOcean's website bragging and congratulating all involved.



en.wikipedia.org...

Exploratory drilling commenced around March 2009,...

It also mentions the FIRST drilling back in September 2009 in which the oil field was discovered.


BP discovers 'giant' oil field deep beneath waters of the Mexican Gulf

The Tiber prospect, about 250 miles south-west of New Orleans, is incredibly deep – about as far below the Earth's crust as a passenger jet flies above it – and has a 4,000ft-deep ocean on top. The multiple reservoirs found there are BP's second discovery in the so-called "lower tertiary play", which spans 300 miles across the Gulf .... BP struck oil at Kaskida, 40 miles away, in 2006 and is investigating the site.

The magnitude of this well boggles the mind. I can just see them itching to bust into it. And they did just that.


BP finds 'giant' Gulf oil field Tiber field may hold 450 million recoverable barrels, signal that other Gulf reservoirs remain untapped, analysts say.

Tiber was drilled 250 miles southeast of Houston in 4,132 feet of water, reaching almost 31,000 feet beneath the seafloor. The total length of the drill stem from the floor of the rig to the terminus of the well was more than a mile taller than Mount Everest, making Tiber the deepest well ever.

This article also mentions how the discovery of the well was 'good news to the gulf" since the area was thought to have played out already. They also wondered whether it would 'flow' and what the cost would be getting the oil out.

Oh it's flowing alright, the cost is already more than we can bear, and it definitely ain't good news for the gulf. . . nay, possibly the world!

But what do I know? I'm just a bent-over lil ol lady.
Come to think of it, I could use some oil . . .

reply to post by Leo Strauss


What Americans never seem to realise is that oil spills are part and parcel of drilling & shipping oil. Is this news to you somehow? Just because this spill is in US waters you presume it matters more than if it happened elsewhere in the World. Why not stop bleating & get on with cleaning it up?

It should be pointed out that BP's primary responsibility is to their shareholders, not some cajun shrimp catchers. Without BP's shareholders risking their capital to finance oil extraction your demand for oil would not be met. Why should these shareholders suffer because of US greed?

Without cheap oil how could you drive your HumVee's? How could you fly your Predator drones? How could you fry your burgers?

US consumers selfish demand for oil is the root cause of this problem. Fact.

"Without cheap oil how could you drive your HumVee's? How could you fly your Predator drones? How could you fry your burgers?"

I do not own an HumVee, nor do I own a Predator drone and I use wood chips to BBQ my burgers. And when it's too cold to BBQ, I use my electric range to fry them.

And by the way, you think that $2.75 per gallon for gasoline is cheap? That's not very cheap considering it was about 50 cents per gallon about 35 years ago.

You can blame Americans and their dependence on oil until the cows come home. But the fact of the matter is, corporations have been shoving petroleum products such as plastics down people's throats for decades now.

This dependence on oil has been artificially manufactured by these scummy corporations for only one reason: profit. The fact that they have been poisoning the environment and the people is of no consequence to them, since the Government refuses to hold them accountable for anything.

reply to post by Lionel


Welcome new member Lionel. Maybe you should join the BP cleanup crew? Maybe you already have...cleaning up the internet.

As far as I am concerned they should shut em all down. America is way past ready for sustainable and renewable energy but BP, Exxon etc won't let us!