BP (Bankrupt Petroleum)

   This is just my opinion of the future of the oil spill, but if this happens all hell will break loose!  I foresee BP going belly up because of the spill in the gulf.  Theres to many indicators that point in the direction of CONSPIRACY!  My idea is that over the course of the next couple months, BP is going to say that the size and magnitude of the spill is to much for the company to tackle by themselves. Major investors that are also members of BP’s board are going to sell off their shares to another oil giant like Exxon and this in turn is going to cause a panic amongst BP’s other investors and cause them to create a major sell off as well. The money the major shareholders make in the sell off will be invested in another company – to be named later.  BP will file for chapter 13 protection and leave the American taxpayer with the single largest man-made ecological and financial disaster in history. The burdon associated with the spill will leave the U.S government between the proverbial rock and a hard place.  This will bank-roll an already burdoned U.S economy, leading us to another great depression.  Just like the great depression of the 1930’s, people will again find themselves in the government cheese line.

   Remember the history classes we had to take in high school and the lesson on the great depression.  The great depression was the result of thousands of banks calling in Margin loans that millions of people pulled from personal banks.  The 20’s and the early 2000’s share alot in common.  In the early 20’s people could pull out what was called a margin loan.  They could buy 1000$ worth of stock for only 100$ or 10% of the total amount.  The broker would pay the rest and people in the 20’s made alot of money.  The only catch was that the Margin loan could be called in at any time and when the bank would call in the loan, the person who had the loan had only 24 hours to pay off the loan in full. This usually meant paying the broker in cash along with the remaining stocks.  This left millions of Americans broke and sleeping on the street.  The same thing happened in the early 2000’s when millions of Americans were given loans for homes that the banks knew could never be paid back.  People were given lines of credit when in reality they never should have got the loan.  When the banks adjusted the interest rate, people were left upside down and drowning in a sea of debt.  The bankers knew this would happen, but lots of bankers banked in on the hurt of millions of broke Americans.  The housing bubble burst and many wall street investment banks had made billions in junk mortgages.  When wall street hit bottom they were lucky that one of the good ole boys that caused the disaster was appointed to the department of Treasury, Henry Paulson.  He went before congress and reguested billions upon billions of dollars and asked that he be given total control over the funds.  Congress gave him the money and he gave the money to his friends on wall street.  Meanwhile people were sleeping in shelters, eating at soup kitchens and mailing in their keys instead of their payment.  Wall street investment firms had made almost a trillion dollars then was given money from the same people they screwed over to make the investors happy.  We remain in a recession because of these elite few who control the American economy.  Now in the shadows of another depression were being hit by another financial disaster, the gulf oil spill.

   BP will walk away from this spill and wash their hands of the responsibility of the clean up.  In the meantime another company will acquire all the assets of BP and acquire none of the oil clean up.  The Obama administration, congress and the senate will allow this to happen.  Bobby Jindahl, the governor of louisiana has already tried to pass new state legislation that would make it illegal for companies that utilize state assistance to sue BP over any costs associated with the disaster.  While all this is happening, the American currency will lose all of its worth, or at least what little worth it has now.  Maybe this will finally usher in the North American Union and the active use of the Amero, who knows.  All I know is that this spill has to many questions that surround it.  Why did the Obama administration allow BP to continue to lie to the American public about the size of the spill?  Why did Ken Salazar allow the MMS to maintain a cozy relationship with big oil?  How in the hell did BP get a permit to put a well 5000 feet below the surface with no back up plans in the case of an emergency? Not only that but also giving BP a permit when it has a history of a piss poor safety record?  Were all going to get stuck with the bill on this deal.  Politicians and the elite who control our economy are going to reap billions from this disaster.

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