BP will file for bankruptsy?

[Whoo]

Oops, it took me too long to find the link and modify my post:

http://www.msnbc.msn.com/id/38032854/ns/disaster_in_the_gulf

Scroll down on the page and look for videos.  Find the one that has the picture of smoke on the water from the fires they are setting.  Disturbing when I watched it last night, still disturbing this morning.  This conservationist is a pretty brave guy for doing the flyovers and putting his videos out there for anyone to see.

[Sir Jeffrey]

I also agree with Ham. Subsidies are only paid for certain crops to insure a good supply of crops, to insure the the farmer will make a profit (income stabilization) and to provide an incentive to plant certain crops when the farmer would prefer to plant something else more profitable.

"For instance in the 2002 Farm Bill, for every bushel of wheat sold farmers were paid an extra 52 cents and guaranteed a price of 3.86 from 2002–03 and 3.92 from 2004–2007.[17] That is, if the price of wheat in 2002 was 3.80 farmers would get an extra 58 cents per bushel (52 cents plus the $0.06 price difference)."

It is my understanding, the farmer will get nothing if they loose or produce no crops. The get a subsidy based upon the crop and how much is produced. Even if they received a subsidy for lost crops, as you can see, getting 58 cents for something worth approx. 4 dollars would put a farmer out of business.

If you get hit and it is the others persons fault, does your insurance pay or does theirs? BP is negligent so they need to pay every person they have harmed for their negligence.

[Whoo]

So, why is the Dept. of Agriculture offering to pay farmers to turn their fields into wetlands for the birds in the spill regions?  The area is a major pit stop for millions of migrating birds soon, and the numbers would be catastrophic if they don't have somewhere else to land, molt, get their other feathers in for the long flight.  Is this something that had been considered when deciding to have BP pony up the 20 billion?  You screwed up this entire region.  Here's a bill for ya!   ;D

[Whoo]

Here's more ugly on the subject of oil wells in the Gulf:

http://www.msnbc.msn.com/id/38113914/ns/disaster_in_the_gulf

I would figure the underwater wells would be more unpredictable than those on land in terms of stability and how effective the seals are.  Out of sight, out of mind, indeed.  Man, I hope all of the crap the oil industry has hidden finally comes to light, because we are gonna need all the ammo we can get to convince a fickle public to change their way of thinking about alternative energy. :mad:

[Whoo]

So, any wagers on whether the removal of the cap and replacement of a bigger cap is gonna make things better or worse?  Yeah, I know there will be a 48 hour period where the oil will flow freely, but I think the real reason why they are doing it is we are on the verge of seeing a HUGE blowout and BP doesn't want to let the cat out of the bag.  I think the damaged pipeline is under so much pressure there are a bunch of smaller problems popping up and no one wants to talk about it.   OTOH, I didn't realy see significant flow reduction with the cap on anyway.  I think also they have ran into some big issue with the alternative lines they are drilling, and this is just their way of trying to break bad news to us gently. ::) :mad: >:(

[Whoo]

Read an article this morning (then MSN removed the damned thing before I could go back to it and link it  >:( ) about BP considering selling its' most productive rig, in Alaska - to an independent oil company in Texas, Apache Corporation.  The article said it is so BP can ensure they have lots of money on hand to spend on cleanup costs, etc.  I say if one were to read between the lines, this is BP's way of gathering their toys and going elsewhere.... to someplace where they can skirt regulatory issues, more likely. ::)

[Mr T]

Now they have delayed the pressure test.  I think you are right - there is other stuff broken down there and they don't want to tell the truth all at once.

We have GOT to stop buying things made from petroleum.  NO PLASTICS!  Especially disposable things.  No plastic wrap, no baggies, no trash bags, no lighters or razors.

These are recent things in our lives - surely we can remember what we did before we had these things.

[Whoo]

Now they have delayed the pressure test.  I think you are right - there is other stuff broken down there and they don't want to tell the truth all at once.

You know, now I am wondering a legal question - is the government now liable for what could go wrong from this point onward?  Shared liability, "you had your opportunity to conduct your tests and you decided to give us the green light to cap baby cap, drill baby drill, now you share the costs of any new future damages"?  Eghads. :o

[Whoo]

Okay, so now Hayward is getting the boot in exchange for 1.6 million, plus he will get the full retirement benefits, approx. $900,000 and change per year.  Now, that's penalizing someone for poor performance. ::)

What I find more disturbing is BP's plan to take a 10 billion American tax exemption this year...yep, they are gonna try to stick it to the taxpayers after all.

[Mr T]

Sure, they will stick it to the tax-payers any way they can, and boy howdy, they have a LOT of ways.  Our tax code is set up to protect the wealthy.  They are a very protected class.

Our economy is unsustainable and it will crash.

[Whoo]

I've said it before, though it's been a long time, maybe even on the old forum:  the US could really, really help our own economy if we would take even just ONE year off from doling out money to other countries in the form of aid and hold onto it ourselves.  That could at least make a dent in the debt.

However, I don't think the government, particularly in this teabagger climate, can continue waiting around for someone in the private sector to move forward with a manufacturing business that could be easily expanded from state to state (hear me, WIND FARMS).  And whatever happened to all the talk about Medicare moving forward with plans to change things to where people in need of nursing care could stay in their homes and a friend or relative could receive home health certification and payment accordingly to take care of said loved one?  They are money savers, home savers!!!

[RatSass]

Don't expect the private business to do much until all the details about the healthcare bill are known.  New things pop up each day that discourages small business expansion.  I have been ready to partner up with some family and friends and start a small manufacturing business with 36 employees to start.  We have a proven business model with almost a million is cash between us waiting to go.  The problem is not knowing what the taxes, health care cost, and unnecessary paperwork will cost. 

There is also the fact that in the near future I will be required to buy health insurance for myself or pay a fine.  I am 100% disabled all service connected.  Why should I pay a fine when I use the VA healthcare system?

[Mr T]

Why will you be forced to buy private insurance?  Do you have to have some sort of supplemental thingie to cover stuff not service-related?  Is VA supposed to cover everything even if it isn't service-related?  Will you not be eligible for Medicare when you are 65 because you have VA? 

I don't understand.  ::(:

[RatSass]

The Obamacare insurance requirement is one year before I am eligible for medicare.  There are no provisions in the bill for disabled service members.  Everyone must have insurance or pay the fine.  I am not sure but I think the first year fine is $596 or 1% of income whichever is higher. 

[Mr T]

Thanks!  I didn't understand. :smile: