New Image of Oil Catastrophe

[Subdivisions]

Don't know if this has already been posted but if so here it is again:



Source: http://blog.skytruth.org/ {Hi-Res at link)

How many more days is it going to be before the intercept well is drilled? What if it gets worse before it gets better?

[Angry Dragon]

1. I heard at least a month before the new well

[Statistical]

2. They started about 20 days ago and original estimate was 90 days so...

70 more days?

[Cetacea]

4. Official date is August 14

as per BP

[amborin]

3. BP finally, 30 days later, under pressure, releases video

http://www.youtube.com/watch?v=rlPPFcy-3Vo&feature=player_embedded

[flamingdem]

5. To keep in mind: BP is worth 5 TRILLION and their arrogance and $ will worsen this disaster 100x

They'll be paying people off left and right!

[Statistical]

6. BP is not worth $5 trillion.

:rofl:

[flamingdem]

7. I heard that on the news, what are they worth then?

If they profit 4 billion a quarter and the value of their operations.

They value companies in many ways in the biz world.

[Statistical]

9. The most useful metric is what do buyers believe the company is worth right now.

For any public traded company the equity portion of that is market cap.
Market Cap = Shares Price * Number of Shares.

If investors believed the company was worth more they would bid the price of shares up and if they felt it was too high they would bid the price of shares down.

BP current market cap is $140 billion even before the incident the market cap was $175 billion. That is what the global sum of investor knowledge believes the EQUITY in BP is worth.

Of course BP also has debt of about another $134 billion. So the company has enterprise value of roughly $300 billion prior to the incident (and less now).

Anyone thinking BP is worth $5 trillion believes that the stock market is discounting the true value of the company by a factor of 20. They should run out buy every share they can because really the share prices are trading at 5 cents on the dollar.

Another way to look at it is if you had $270 billion in cash you could buy all of BP right now. Every single share, every single dollar of debt. If someone thinks BP is worth $5 trillion they should do that. It would be like finding a house you think is worth $200,000 and finding out you can buy it for $11,000. You would buy that house in a heartbeat right?

[flamingdem]

8. Here is a news item saying they are worth ONE TRILLION, enough?

Environmentalists protest oil spill at Lake Worth BP station
16 hours ago - BP is the fourth largest corporation in the world with a value of nearly a trillion dollars. ... And for what it's worth, the oil they were getting in the gulf was going into the world market and was NOT going to the USA. ...
www.palmbeachpost.com/.../environmentalists-protest-oil-spill-at-lake-worth-

So perhaps if they value them going forward it is more, or the companies they own. Regardless, FOURTH LARGEST CORP. is enough to say A SHITLOAD OF DOUGH.

[Statistical]

10. Sloppy reporting.

BP isn't worth a trillion dollar. Not even close.

http://www.palmbeachpost.com/news/environmentalists-protest-oil-spill-at-lake-worth-bp-683470.html

I notice now that sentence has been removed and article updated. Maybe someone corrected the editor.

BP has an enterprise value of roughly $270 billion and a market cap of "only" $130 billion.

Exxon Mobil the largest oil company in the world (which often trades places with #2 globally - Petro China) and has a market cap of roughly $400 billion.

[suffragette]

11. Skytruth has consistently posted some of the most

accurate material and analysis on the Gulf gusher.

It's worthwhile to look at their posts about the Montara/Timor spill.
The intercept well for that is what finally shut it down so its timeline is useful to look at, started in Aug, stopped in November.

http://blog.skytruth.org/2010/01/timor-sea-drilling-spill-questions.html
Timor Sea Drilling Spill - Questions Remain
Permanent plugs have successfully been installed and pressure-tested in the notorious H1 well that blew out on August 21, 2009, in the Timor Sea and spewed oil and gas for 71 days. Some information is now trickling out as the Australian government investigates the causes and consequences of the Montara / West Atlas blowout and ten-week oil spill. News accounts have focused on the drilling contractor's apparent failure to install a basic piece of safety equipment called a corrosion cap. This seems like a serious mistake for a major offshore drilling contractor like Seadrill. But we're not yet sure that the lack of this cap could, on its own, cause the well to blow out.

More here:
http://blog.skytruth.org/2009/11/timor-sea-drilling-spill-finally.html