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Bp Have Hit £3 A Share

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Wait until you know the proper relief well is working - it that fails too then price will be zero.

There's a doom doomsday scenario of the all the wells fragment into each other and the whole well erupting (only 3% has escaped so far)

See

http://www.independent.co.uk/opinion/letters/letters-the-lusi-mud-volcano-2004811.html

In relation to the Gulf of Mexico oil leak, I'm surprised not to have seen more coverage of another recent disaster.

In May 2006, a gas drilling operation punctured an underground structure in East Java, Indonesia, which responded by spewing mud driven by pressurised water and gas from surrounding rocks. Ever since then, this "Lusi" mud volcano has churned out 2,500 cubic metres of liquid mud every day, with no end in sight and no reason to expect one for decades.

Edited by no accountant

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I did read somewhere that what's coming out of the Gulf well is 50% methane. Basically what BP have done is drill into a fizzy drinks can of oil, only pressurised with methane rather than carbon dioxide.

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I did read somewhere that what's coming out of the Gulf well is 50% methane. Basically what BP have done is drill into a fizzy drinks can of oil, only pressurised with methane rather than carbon dioxide.

I might slowly buy in, but I consider the money I bet the same as the money I bet on England to beat Germany. Err. whats the word ... disposable!

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It occurred to me that the US governement, if it decided to get really tough, could nationalise BP. Apparently Americans own over half the shares in BP - so if the US govt bought or somehow seized those assets it would have control.

Is there any evidence yet that the leak won't continue for years or even decades???

Edited by blankster

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I bought about £3ks worth today. Bought in the SIPP which I figure is punt money as its likely to get stolen by the government or bankers by the time I get to retirement anyway.

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Hi

I bought BP at 309p after the GOM fishfood leak, and that was almost rock bottom at the time. I'm not up to speed with events this time, but that was a solid floor for a big drop, so solid support I imagine - unless whatever going on now is worse.

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  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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