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Offshore Drilling and Deepwater Spilling part II

Old 06-17-10, 07:58 AM
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Offshore Drilling and Deepwater Spilling part II

The rhyming is just a bonus.

Part I: HERE
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Old 06-17-10, 08:30 AM
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Re: Offshore Drilling and Deepwater Spilling part II

Vin Vega,

As a dyed-in-the-wool Obamaton, are you defending the president on this one?
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Old 06-17-10, 09:05 AM
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Re: Offshore Drilling and Deepwater Spilling part II

Spoiler:
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Old 06-17-10, 09:12 AM
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Re: Offshore Drilling and Deepwater Spilling part II

^ Cue the Venture's "Theme from Hawaii 5-Oil"
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Old 06-17-10, 09:33 AM
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Re: Offshore Drilling and Deepwater Spilling part II

Rep. Joseph Cao to BP execs: "In the Asian culture, we do things differently. During the samurai days, we'd just give you a knife, and ask you to commit hari-kari."
What is "hali-kali"?
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Old 06-17-10, 09:45 AM
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Re: Offshore Drilling and Deepwater Spilling part II

Originally Posted by classicman2 View Post
Vin Vega,

As a dyed-in-the-wool Obamaton, are you defending the president on this one?
I'm just performing my administrative duties here. As you can see by my lack of posting, I've grown tired of politics in general.

Obama has no clue on this one. He's making trips to the Gulf because that's what he's "supposed to do." BP also has no solutions. This well is going to gush for the foreseeable future. I hear that they just closed off a larger section of gulf waters to fishing. I want to get one more Grouper fishing trip in with my dad before they close the entire Gulf of Mexico to fishing forever. This whole thing is a tragedy.
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Old 06-17-10, 10:45 AM
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Re: Offshore Drilling and Deepwater Spilling part II

According to Rep. Barton (R-TX), when the president required BP to take money to pay for the damage it has caused and put that money in an escrow account administered by a neutral third-party, that was a "shake down" to create a "slush fund."
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Old 06-17-10, 11:21 AM
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Re: Offshore Drilling and Deepwater Spilling part II

Sounds about right to me. Just like Jesse Jackson shakes down other corporations.

Funny that BP doesn't even have that much cash to put into the fund.
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Old 06-17-10, 11:49 AM
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Re: Offshore Drilling and Deepwater Spilling part II

Originally Posted by VinVega View Post
I'm just performing my administrative duties here. As you can see by my lack of posting, I've grown tired of politics in general
We all go through that fatigue from time to time. Don't worry, you'll be sucked back in eventually.
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Old 06-17-10, 11:53 AM
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Re: Offshore Drilling and Deepwater Spilling part II

Originally Posted by JasonF View Post
According to Rep. Barton (R-TX), when the president required BP to take money to pay for the damage it has caused and put that money in an escrow account administered by a neutral third-party, that was a "shake down" to create a "slush fund."
Here's the video:

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Old 06-17-10, 11:57 AM
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Re: Offshore Drilling and Deepwater Spilling part II

Originally Posted by JasonF View Post
Here's the video:

<object width="448" height="368"><param name="movie" value="http://www.dailykostv.com/flv/player.swf"></param><param name="allowFullScreen" value="true"></param><param name="flashvars" value="config=http://www.dailykostv.com/w/002738/vxml.php?448"></param><embed src="http://www.dailykostv.com/flv/player.swf" type="application/x-shockwave-flash" allowfullscreen="true" width="448" height="368" flashvars="config=http://www.dailykostv.com/w/002738/vxml.php?448"></embed></object>
Seems much more important now that you provided the video.
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Old 06-17-10, 11:58 AM
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Re: Offshore Drilling and Deepwater Spilling part II

Originally Posted by X View Post
Sounds about right to me. Just like Jesse Jackson shakes down other corporations.

Funny that BP doesn't even have that much cash to put into the fund.
BP was required to set aside cash to pay for the damage that it caused. The fund is to be administered by a third-party. I can't believe any sane human being thinks that owning up to the damage you cause is a shakedown, but I recognize that sanity has long since gone out the window when it comes to politics in this country.

Kudos on the gratuitous swipe at Jesse Jackson. See if you can work in a Bill Ayers reference next time.
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Old 06-17-10, 12:05 PM
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Re: Offshore Drilling and Deepwater Spilling part II

Originally Posted by JasonF View Post
BP was required to set aside cash to pay for the damage that it caused.
What law required them to put money in that fund?

I heard it was an "agreement" between the White House and BP, just like Jesse Jackson gets "agreements" with the companies he shakes down. Community organizing at its best.
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Old 06-17-10, 12:15 PM
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Re: Offshore Drilling and Deepwater Spilling part II

Originally Posted by X View Post
What law required them to put money in that fund?

I heard it was an "agreement" between the White House and BP, just like Jesse Jackson gets "agreements" with the companies he shakes down. Community organizing at its best.
So any time a company is asked to do something the law doesn't require, it's a shakedown? I asked Subway to put extra lettuce on my sub the other day, even though there is no clear statutory requirement that they do so. Shame on me!
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Old 06-17-10, 12:45 PM
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Re: Offshore Drilling and Deepwater Spilling part II

Originally Posted by JasonF View Post
So any time a company is asked to do something the law doesn't require, it's a shakedown? I asked Subway to put extra lettuce on my sub the other day, even though there is no clear statutory requirement that they do so. Shame on me!
You should have asked Subway for a 20 billion dollar slush fund instead. Rookie mistake.
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Old 06-17-10, 12:49 PM
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Re: Offshore Drilling and Deepwater Spilling part II

Originally Posted by JasonF View Post
So any time a company is asked to do something the law doesn't require, it's a shakedown? I asked Subway to put extra lettuce on my sub the other day, even though there is no clear statutory requirement that they do so. Shame on me!
Good one! Now ask Subway to put $50 million of lettuce in your bank account or untold consequences will befall them. I'd say shakedown is quite a polite word for that.

Nor is this hypothetical Subway argument a good defense of your "required" statement. By law, BP was required to pay $75 million (I believe it is) in maximum penalties for this type of occurrence. And that $75 million doesn't get put into a fund that the administration has the sole say as to where it goes.
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Old 06-17-10, 01:42 PM
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Re: Offshore Drilling and Deepwater Spilling part II

I guess Boehner doesn't consider it a shakedown or slush fund. He's running faster than Usain Bolt from Barton's comments. http://voices.washingtonpost.com/plu...self_from.html
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Old 06-17-10, 01:54 PM
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Re: Offshore Drilling and Deepwater Spilling part II

Just a question. Was that $75 million cap on accidental spills, or is there a different cap for this kind of negligence.
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Old 06-17-10, 02:05 PM
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Re: Offshore Drilling and Deepwater Spilling part II

Originally Posted by spainlinx0 View Post
Just a question. Was that $75 million cap on accidental spills, or is there a different cap for this kind of negligence.
I'm not a lawyer so this certainly isn't authoritative, but I would think there would be a legal process to follow to prove negligence and assess damages.

You can't just tell a company to put a bunch of money into an account that you administer even before their neglect, not to mention the damages, have been determined. No more than you can confiscate money from an individual before the legal process has been carried out. At least I think that's the way it used to be in this country.
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Old 06-17-10, 02:11 PM
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Re: Offshore Drilling and Deepwater Spilling part II

So why do this if you're BP? I assume it was the decision of the entire board, or at least a majority, and not just the CEO.
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Old 06-17-10, 02:24 PM
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Re: Offshore Drilling and Deepwater Spilling part II

Originally Posted by Superman07 View Post
So why do this if you're BP? I assume it was the decision of the entire board, or at least a majority, and not just the CEO.
Why does somebody pay a blackmailer?

I heard BP only has cash reserves of around $8 billion (I haven't checked out their financials myself). I doubt anyone is going to lend them $12 billion, so where is the $20 billion coming from anyway? Is most of it from insurance (I hope it's not AIG!)? Is the government going to front the $20 billion and BP promises to pay it back over some period of time?

Maybe that's a deal that they struck for some Executive Branch protection from lawsuits. I'm sure the most open Administration in history will fill us in on the details soon.
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Old 06-17-10, 02:30 PM
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Re: Offshore Drilling and Deepwater Spilling part II

Barton sounds like an attention whore to me
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Old 06-17-10, 02:40 PM
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Re: Offshore Drilling and Deepwater Spilling part II

Originally Posted by Venusian View Post
Barton sounds like an attention whore to me
That's so unusual for a politician, especially in an election year.
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Old 06-17-10, 02:44 PM
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Re: Offshore Drilling and Deepwater Spilling part II

Originally Posted by JasonF View Post
According to Rep. Barton (R-TX), when the president required BP to take money to pay for the damage it has caused and put that money in an escrow account administered by a neutral third-party, that was a "shake down" to create a "slush fund."
Barton is a giant pile of steaming of sh*t. He wreaked of someone being paid off by big oil and guess what.........he's from Texas. What a big f*ckin surprise there now isn't it?

How dumb does he think everyone is?

The sad fact of the matter 85% of americans believe BP has dropped the ball in a HUGE way. Does this idiot Barton expect every single person who has had their lively hood effected file a suit against BP and then wait years for it to go to trial and even more to get settled. How does the average Joe who has MAYBE 6 months of emergency funds deal with bills, etc, etc, etc while BP figures out if they are going to pay them or not.

Barton just proves where his politics lie.......in the wallet of big oil. If I was from Texas I would be ashamed.

I know I don't stop at BP stations anymore and never will.
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Old 06-17-10, 02:49 PM
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Re: Offshore Drilling and Deepwater Spilling part II

You realize that not shopping at BP stations is hurting the business owner more than BP? You might still be buying BP oil from another station.

Stop buying oil and you'll hurt them more.
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