What Obama Won't Tell You Tonight

[DOGS THAT BARK]

<CITE>by Brett Arends
Tuesday, June 15, 2010</CITE><CITE class=provider>provided by</CITE>
Commentary: Five things you need to know about the Gulf response
President Obama plans to address the nation from the Oval Office tonight on the Gulf oil disaster. Better power up our baloney shields.


1. BP PLC was going to pay the bills anyway
Obama is demanding BP (NYSE: BP - News) set up a special $20 billion "fund" for Gulf victims. It sounds tough. But this is largely theater. It's like the kid who trained his pet rock to "stay."
There is no serious risk that BP would somehow skip town without paying. There never was. And, despite the hysteria, there is no danger the company will be unable to find $20 billion either.
BP has $240 billion in assets, including $70 billion in cash, inventories and receivables, compared to $135 billion in liabilities. It is one of the largest oil and gas companies in the world. It employs more than 80,000 people and has more than 50 exploration and production sites around the globe. Analysts predict BP will have operating cash flow of $30 billion this year, $36 billion next year, $42 billion in 2012 and $45 billion in 2013.
Despite the brouhaha over the $10 billion in dividends, BP spends twice that each year in capital expenditure, including research, development and exploration.
To put all this in context, Exxon Mobil Corp.'s (NYSE: XOM - News) entire costs for the Valdez spill in 1989 came to $7 billion in today's money.
There is no reason at the moment for anyone in the Gulf to fear that BP or its partners cannot or will not meet legal obligation of $20 billion or even more----

#2-3-4-5
http://finance.yahoo.com/banking-bu...-obama-wont-tell-you-tonight?mod=bb-budgeting

 

[Skulnik]

Obama is going to push for a climate change bill tonight, the BP guy just did the White House talking points to set the groundwork tonight.


:nono:

CAP and TAX!!!!

Al Gore and Goldman Sax will make BILLIONS on our backs!!!


:nono:

 

[kcwolf]

Brent Arends is known as a bottom feeder. A pandering sensationlist.

His job at the Street is to make up absurdly moronic tales. What?s really idiotic is that his bit of ignorant ?reporting? was picked up and widely, making him the Troll of the Day.

I'll give him credit, he is probably more believable right now than British Petroleum. It's sad to see the guy cares more about a foreign company than our hurting citizens on the gulf coast, begging for their first compensation check. No worse than Mayor Bloomberg I suppose, who borders on un-American with his statements yesterday.

I wonder what Brent Arends would have to say if Obama declared his ever dying trust in BP. I wonder what Mayor Bloomberg would be saying if the oil was lapping in on Long Island.

Another bullshit article.

 

[Trampled Underfoot]

Why do people keep referring to Obama as a liberal? I'll never understand it.

 

[Skulnik]

Why do people keep referring to Obama as a liberal? I'll never understand it.

Progressive.

:0074

 

[shawn555]

I like how we have gone from this being Obama's Katrina due to slow response to now where he is overdoing it.

And going after the poor BP is just a mean thing to do.

 

[Chadman]

Since you posted this, Wayne, do you then also agree that Obama should have used this tragedy to make a stronger push and case for clean energy? Arends does, and it makes up 20% of his article. I can go on, but seriously, most of this material is not something anyone really concerned about the tragedy cares that much about.

As for the British Petroleum reference, does anyone really not consider this to be essentially a British company? Here is the description:

BP plc[2] is a British-based global energy company which is the third largest energy company and the fourth largest company in the world. As a multinational oil company ("oil major"), BP is the United Kingdom's largest corporation, with its headquarters in St James's, City of Westminster, London.

Of course they changed their name, and even went so far as to make their logo look green and seem public friendly. Does anyone consider them to be public friendly now?

As for them paying the bills, does anyone REALLY think they will be completely responsible and not challenge every possible payout, and/or avoid what they can? Bush capped their payouts - along with all other oil/energy company payouts, for just such a scenario, and the response from them so far has been we'll pay for REASONABLE and VERIFIABLE responsibilities. You think they'll step up and assume all of those things, or fight them all tooth and nail with their armada of corporate attorneys?

Seriously, we're supposed to worry about Obama not talking about THESE things? :shrug:

 

[THE KOD]

I read recently on Drudge that BP was considering bankruptcy protection.

So not sure that financial info is even accurate.

wouldnt that be a shock if they just backed out the easy way.

uh no

 

[rusty]

Why do people keep referring to Obama as a liberal? I'll never understand it.

Please explain.

 

[Skulnik]

The fuking POS president is PUSHING Cap and Tax Right NOW, FUK this POS!!!!!!!!!!!!!!!!


FRAUD!!!!!!!!!!!!!!!!!!


:thefinger

 

[THE KOD]

I thought he did well in this speech

 

[Skulnik]

I thought he did well in this speech

His TELEPROMPTER just went in for a tune up.

 

[Trench]

I thought he did well in this speech

Chris Matthews, Keith Olbermann and Howard Fineman ripped Obama's speech to shreds on MSNBC. In their opinion, Obama's speech showed no leadership, no plan and no specifics about the current crisis. Only generalities about the direction our energy policies should go. I pretty much agree with them. Not one of Obama's finer moments.

Trench

 

[kcwolf]

I thought DTB's title was appropriate. He hardly told us anything. I say bullshit on Obama.

 

[DOGS THAT BARK]

Since you posted this, Wayne, do you then also agree that Obama should have used this tragedy to make a stronger push and case for clean energy? Arends does, and it makes up 20% of his article. I can go on, but seriously, most of this material is not something anyone really concerned about the tragedy cares that much about.

As for the British Petroleum reference, does anyone really not consider this to be essentially a British company? Here is the description:

BP plc[2] is a British-based global energy company which is the third largest energy company and the fourth largest company in the world. As a multinational oil company ("oil major"), BP is the United Kingdom's largest corporation, with its headquarters in St James's, City of Westminster, London.

Of course they changed their name, and even went so far as to make their logo look green and seem public friendly. Does anyone consider them to be public friendly now?

As for them paying the bills, does anyone REALLY think they will be completely responsible and not challenge every possible payout, and/or avoid what they can? Bush capped their payouts - along with all other oil/energy company payouts, for just such a scenario, and the response from them so far has been we'll pay for REASONABLE and VERIFIABLE responsibilities. You think they'll step up and assume all of those things, or fight them all tooth and nail with their armada of corporate attorneys?

Seriously, we're supposed to worry about Obama not talking about THESE things? :shrug:

No I don't--I am not a fan of "never let a good disaster go to waste" I am for the cleanest energy possible at an affordable price.

There have been thousands of well off shore with no probs--From what I have been reading it does not look good for BP as appears they cut a lot of corners that led to this--if proven correct I am for criminal charges along with damages.

As much as I dislike O --I fail to see how anyone can remotely put fault at his feet for fiasco. The fault lies 100% with BP.

I do detest his rhetoric over ordeal and agree with Trench and KC and those below that the BS is getting old even for leg tinglers like mathews.

http://www.realclearpolitics.com/vi...to_carter_i_dont_sense_executive_command.html
article and video

Chris Matthews, Keith Olbermann and Howard Fineman react to President Obama's Oval Office Address on the oil spill. Here are the highlights of what the trio said:

Olbermann: "It was a great speech if you were on another planet for the last 57 days."

Matthews compared Obama to Carter.

Olbermann: "Nothing specific at all was said."

Matthews: "No direction."

Howard Fineman: "He wasn't specific enough."

Olbermann: "I don't think he aimed low, I don't think he aimed at all. It's startling."

Howard Fineman: Obama should be acting like a "commander-in-chief."

Matthews: Ludicrous that he keeps saying [Secretary of Energy] Chu has a Nobel prize. "I'll barf if he does it one more time."

Matthews: "A lot of meritocracy, a lot of blue ribbon talk."

Matthews: "I don't sense executive command."

 

[StevieD]

Chris Matthews, Keith Olbermann and Howard Fineman ripped Obama's speech to shreds on MSNBC. In their opinion, Obama's speech showed no leadership, no plan and no specifics about the current crisis. Only generalities about the direction our energy policies should go. I pretty much agree with them. Not one of Obama's finer moments.

Trench

Refreshing at least, to see the cheerleaders knock him. Maybe if we got some of that out of Fox during the Bush years things would be better. Anyway, shame on Obama.

 

[Trampled Underfoot]

Refreshing at least, to see the cheerleaders knock him. Maybe if we got some of that out of Fox during the Bush years things would be better. Anyway, shame on Obama.

I'll have to watch his speech later tonight. :0002