BP Hires Goldman, Others for Spill Advice

BP Hires Goldman, Others for Spill Advice

www.foxbusiness.com

As BP Plc (BP) comes under growing scrutiny for its response to the ongoing oil gusher a mile below the Gulf of Mexico, the company has engaged a trio of investment banks to help steer it through the fiasco, FOX Business has learned.

Credit Suisse (CS), Goldman Sachs (GS) and Blackstone Group (BX) have been brought on by BP to help the embattled oil company develop a strategy about how to pay off its liabilities over the next five years, people familiar with the situation say.

(visit the link for the full news article)


Related News Links:
www.businessins ider.com
www.businessweek.com
uk.mobile.reuters.com

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Incredible, just incredible, BP to use Goldman Sach and other investing banks to help them deal with the possible take over by rival companies like Exxon Mobile

Having one of the biggest investment firms like Goldman that is not shy of funneling millions of dollars to buy congressmen in their side will ensure BP will have a chance when dealing with congress

This just makes my blood boil.

www.foxbusiness.com
(visit the link for the full news article)

[edit on 15-6-2010 by marg6043]

Now isnt this interesting! a takeover by exxonmobil? thats interesting, an oil company invovled in a notorious oil spill wnats to take over another oil company, involved in an oil spill.. wonder what that means? or just bad taste attract eachother? that makes no sense why exxon would wanna buy BP. but i guess thats what they try and do sometimes.
well, they are global corporate thats how much power mobil has, so dosnt suprise me theyd use a corporate bank who took (stole) our tax baliout money no less.
really ever since exxon bought mobile in the 90's it was a mistake. this si according to most oil engineers, so ive read. when exxon bought mobil, most, like well over 95% all agreed it was the end of mobil oil, at leat on the business end. They totaly re badged and changed mobils auto oil, using prestige to the eye tactics to get people to buy the oil, a marketing gimmick* you should never buy a quart of oil simply becuase the advertising or color of the bottle/cap loks attractive. sad to say, they know this too in business terms, and people have done it, so they exploit that*
Before exxon got thier hands on mobil it was considered an perfectly respectful oil to buy, but becuase of the whole corporate business end, no thanks to exxon, it gets a bad wrap these days,

Originally posted by ziggy1706
that makes no sense why exxon would wanna buy BP.

It makes perfect sense actually.

BP's stock has lost a ton of value.

Buying BP right now is a bargain.

I can totally see why take overs are being discussed already.

Whoever takes over will probably double their investment within 5years.

reply to post by ziggy1706


This is a new twist in the conspiracy saga going on in the gulf, who may even think that an US company may be lobbying in congress to get the chance of getting their hands on BP (a foreign company) in the gulf.

This bring a new twist to the talks that it was a sabotage after all



Now don't under estimate BP, they have the money to get the best investment banks to help funnel millions under the table to buy congress in the favor.

This is corruption to the highest in this nation going on or about to go under our noses.

Yeah this is gettin too werid.

Don't forget Exxon and Mobil both use to be Standard Oil aka Rockefeller.

However, it would be a good thing if ExxonMobil took over BP. In the last three years, BP had 760 health and safety violations while ExxonMobil only had 1.

abcnews.go.com...

[edit on 15-6-2010 by tooo many pills]

I see your point muzzleflash yeah. I didnt take that into consideration. well thats providing people still buy BP, which they probably will do. I wont. The one thing about us americans..how quickly we forget* even after have been shafted big time

reply to post by ziggy1706


If BP is bought out, all of their gas stations will be changed to whatever company buys them out. So, we wont be buying gas from BP. The company will also get all of the BP controlled oil wells around the world. It would be a great deal for whoever is buying because they are buying at a bargain. They will also double the amount of oil they can extract while getting rid of one of the top three competitors.

I am starting to see Exxon under a new light, been the larges of all the oil companies in the world or so that is what is been call.

Exxon is also getting dirty with the oil spill blaming the BP management of using bad equipment that caused the spill

Exxon CEO blames BP
Says BP's operations at Gulf well 'dramatic departure' from norms


The CEO of U.S. oil giant Exxon Mobil said Tuesday that the Gulf oil spill wouldn't have happened if BP had properly designed its deepwater well, followed procedures, trained its employees and conducted adequate tests.

Rex Tillerson testified before a U.S. congressional panel examining offshore drilling safety.

Read more: www.cbc.ca...

This two oil baron giants are to engage in a dirty battler over the gulf of Mexico and money is no going to be problem for either of them

GS sure wears a lot of hats... they put on the "Bank-Holding-Company' hat to wrest $13Billion in bailout monies- (via a strong arm leverage stance)

Then they continue to put on the 'dealers visor' by issuing & creating all those toxic derivative bets as the 'House' in their taxpayer bankrolled 'Investment Bank' & 'Broker-Dealer role.


Now they are giving sage legal advice that will need to be Supreme Court worthy to BP exploratory... not BP plc, nor BP cayman island, nor BP UK...or any of the other BP entities that will excape the cleanup costs.


while all those manipulater elite brains are in the building having their brain-buster kniving going on ---LOCK the doors & put them all under AREST for national security terrorism & sedition to overthrow the american way of life.

reply to post by St Udio


I tell you, those that controls oil rules the world, but I wonder isn't BP owned by our friends in the UK? then why will an US company will seek to take over?.

Unless under the NWO it doesn't matter who hold the rights of resources as long as we are all friends and not foes.



Exxon has its blunders its just like many said before, people just have such short memories.

Wow that almost sounds like Exxon was behind the leak in the first place. AKA Sabotage.

Only because they want to reform a monopoly or corner the market or something?

Sure it's extremely far fetched, but, it's not impossible.

I mean corporations are pretty cut throat as it is...

reply to post by marg6043


U.S. companies buyout international companies all the time and vice versa.

Here is one example, Anheuser-Busch (St. Louis based) was bought out for $52 billion by InBev (Beligium based).
www.washingtonpost.com...

It is interesting though because the majority of BP is owned by the Bank of England (Rothschild) and the English Government (The Queen of England). Certainly, they don't need money. So, I don't think they would sell even if the stock price of BP was back where it was 5 months ago. Access to Oil resources is far more important than money, unless they already have the energy of the future.

reply to post by marg6043


heres a snip from ==

urbansurvival.com...

todays message 15 June '10

Look, here's a reader email that explains why:

"George,

Many have said that the gulf spill will put BP out of business. Let's review how incorporation is used by modern corporation to encapsulate and limit liability. I would expect something like the following structure exists within BP.

BP Cayman Islands master owning corporation of all sub corporations

BP England stand alone corporation wholly owned by BP Cayman Islands

BP US stand alone corporation wholly owned by BP Cayman Islands owns gas station in US no connection with corporate entity that is doing the drilling in the gulf.

BP US Exploration stand alone corporation wholly owned by BP Cayman Islands owner of the right to drill in gulf. Rents oil drilling platform from outside corporation. Owns nothing expect the right to drill. Has borrowed money from banks and will have to first use the value of the right to drill to pay back bankers loans before paying for any cleanup or damages claims.

The only corporation that might go bankrupt is BP US Exploration. As it has a negative net worth I do not see any investor shedding any tears. Nor any victims getting any money.

see, the complicated maze these multi-nationals deliberately create !

corporate camoflage that uses words to become invisible when they individually need to be invisible or scarce from the arm-of-the-law.

smile marg...





[edit on 15-6-2010 by St Udio]

reply to post by muzzleflash


That is not all, more is coming out of all this, now Reuters articles and rumors are calling that Obama is going to take over BP and transfer to the other US oil companies as a political move.

WRAPUP 4-Obama, BP set for for oil-spill showdown * Obama to address nation on spill on Tuesday nigh.

Obama wants independent panel to administer BP payments

* BP shares slide 8 pct in London, 6 pct in New York

* Chevron criticizes BP well design (Adds share price drop, Obama heads to Gulf).

Obama has seen the massive spill hijack his ambitious political agenda, pushing job creation and Wall Street reform to the backburner. Both are key issues in November congressional elections in which Obama's fellow Democrats are expected to face a tough fight to hold on to their majorities

Meanwhile, companies like Exxon Mobil (XOM.N), Royal Dutch Shell (RDSa.L), Chevron (CVX.N) and ConocoPhillips, are making coments around that are putting BP shares more into a hole

The oil giant faced damaging criticism from an unexpected quarter on Monday, as Chevron's chief executive said in an interview with the Wall Street Journal that the April 20 accident was "preventable". A deputy said if BP had used best practice in the well design the accident would not have happened.

www.reuters.com...

I just wonder if the cost for these banks will come out of there liabilities for the gulf spill. What better way to take the money from clean up efforts or economic recovery and transfer it back to the banks for profit.

reply to post by St Udio


That is why even if BP declares bankruptcy in the gulf this will only address their venture in the Gulf while the rest of their drilling revenues around the world will be untouched.

The only think BP is losing is the profits generated from the gulf nothing else.

reply to post by St Udio


Thanks for the post. It made me sick with realization that BP, an international consortium of the rich and powerful, is gonna escape through its 'liability' clause, while causing untold suffering to human and animal lives along the gulf coasts.

There....seems...to be....no justice...as the corporate vultures freely harms humanity...