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They will in turn pass the costs on to consumers....
Very true, they will past the costs onto us consumers, or they can somehow absorb the fines, etc. Let's put this disaster behind us and get going. Yes, I feel very sorry for all the people involved including BP personnell. Putting them in jail won't help anything. The only thing we can get from this is knowledge and hopefully we can learn from this. Put it to rest!!
Big (Energy) Oil ...The king of the "too-big-to-fail" monstrosities...
Another could example of an indirect tax that will passed onto the 98%.
BP should be paying for the losses that shareholders in other GOM oil companies encountered. I owned stock in a mid cap company that was @ $25 before BP disaster, it has now dropped to 11 cents/share and is bankrupt (this is after Obama admin refused to allow them to drill or produce oil in GOM, despite having the modern equipment that met post spill gov't reg's for GOM drilling). It appears that Obama took it out on company because their CEO wrote letter in WSJ critical of his approach to dealing with Gulf spill. I figure BP/Obama admin owes me about $95,000 in losses...
P.S. I am not a 1%'er, I make less than 80,000/year...
So.....once the US gets the money, where does it disappear to???? Surely doesn't actually make it into the hands of those impacted by the spill. That would make too much sense.
how could they pass on the cost to consumers when the consumer can buy gas elsewhere? Ihis is a good example of the fallacy of that talking point.
Since someone mentioned it -- it makes me curious -- now exactly WHY should anyone be held responsible for someone else's gambling losses? How is it anything but the individuals responsibility? Now, I'm not against people having wealth but one of the first thing taught is NOT to waste and gamble wealth since it is hard to hold and obtain. Wealth is limited.
So planet earth's oceans are worth 4.5 billion dollars? I would have valued it much higher. As we sit here and preside over the largest mass extinction in history (larger, by far, than the dinosaur extinction) I marvel that there aren't more people demanding change. If you're not simply outraged at the audacity of the unethical multinational corporations and their enabling politicians in Washington, you're not paying attention.
Hopefully the government will put the money towards the deficit and not give out free Obama iPhones
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