Skip to main content

View Diary: White House plans to force BP to set aside money to pay damages (272 comments)

Comment Preferences

  •  Not exactly (3+ / 0-)
    Recommended by:
    majcmb1, blueoasis, oscarsmom

    $239 billion (year 2009)  sales    18.3 billion barrels of oil equivalent in reserves worth @ $80  nearly 1.5 trillion

    •  And after expenses? (1+ / 0-)
      Recommended by:
      erush1345

      Don't forget that they have to pay for stuff out of that gross revenue. Things like equipment and electricity and workers' paychecks and so on and so forth.

      There's a reason the words 'gross income' and 'net income' are so far apart.

      Miseris Succurrere Disco

      by JayFromPA on Sun Jun 13, 2010 at 06:36:17 PM PDT

      [ Parent ]

      •  I did say SALES not profit (0+ / 0-)
        •  Yeah, and that's wrong. (0+ / 0-)

          Say you have a grocery store. Say your grocery store has $1 million in sales every week.

          That does NOT mean you have a cool $52 million to play around with each year.

          If your hypothetical grocery store is at all like other successful stores, after expenses such as equipment and power and gas and materials and inventory and paychecks and benefits and such, you actually will have somewhere around $52 thousand each week.

          Yeah, that's right. When talking about what sort of funds you can put into escrow without harming your business, raw sales numbers mean jack shit. Your hypothetical $52 million dollar sales from your store couldn't manage a mere $1million without harmful cuts.

          You shouldn't misdirect like that, putting forward numbers that do not have a real consideration relating to the question. BP does not have the cash on hand, and throwing numbers around that make it sound like they do is as bad as the right wing pundits throwing out their own false propaganda to get their followers up in arms.

          Miseris Succurrere Disco

          by JayFromPA on Sun Jun 13, 2010 at 11:08:35 PM PDT

          [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site