BP shares: good buy?

OOOh absolutly, us poofs must stick together

"November 5" wrote

The market consensus is they've been 'over-sold'. The 14bn that it's likely to cost to do the entire clean up/compensation package equates to around 1 year's profit for the company. Take out the tax saved on that and it's little more than a 'drop in the ocean' (to use BP speak).

At or around 3/share, I'm sorely tempted to buy, but it may be a bumpy ride in the short term.

John.

"thedarkman" wrote

Happen they need to drill & extract from where the oil is? I don't see any drop off in the demand for oil in the US market. If THEY were really so pee'd off with BP, they'd all go out & buy electric cars.

John.

And where do you get the power from to charge the electric cars?

Bod

as are most gambles........it's rather tempting.

But wait..........is that Freddy's keyboard being tapped.

"bod" wrote

Power stations - these can burn coal, gas, renewable fuels, or even be nuclear powered. So no real need to use oil, except of course battery technology is still so s*it that electric cars are a bit like windmills - not really practical.

John.