Would an Exxon takeover of BP be a good thing or a bad thing?

[Stinky The Clown]

I posted about this once already. The London Times's Sunday edition did a story about a possible BP takeover by either Exxon or Chevron. They noted that BP had no comment and that some American sources noted that the Obama administration had signaled Exxon (at least) that the administration would not stop such a takeover.

I'm a suspicious old fuck and I see this as simply a way to protect (at least the bones of) BP by stirring the mess in ways that makes litigation on behalf of the millions of aggrieved parties in the Gulf more difficult. Exxon, of all companies, has a successful track record in staving off and then bargaining down, oil catastrophe settlements.

Anyway, what do you think? Would it be a good thing if Exxon, or any company, took over BP?

[dipsydoodle]

1. Whilst Exxon is the only company

with the funds to buy the Prudoe bay assets I would doubt its in a position it buy sufficient shares to take control of BP. Gazprom or Petrochina could though.

[Vogon_Glory]

2. Exxon Mobil Seems to Run a Safer Operation

I haven't really dug into the issue, but it looks like Exxon Mobil seems to run safer drilling and refinery operations than does BP. If Exxon Mobil were to take over BP and then have a corporate "season of the long knives" where the BP executives and managers who fostered or who just tolerated many of BP's dangerous practices were pink-slipped and frog-marched out of their offices by corporate security, it might not be such a bad thing.

On the other hand, sometimes it's the subsumed company whose corporate culture take over. I'd purely hate to see BP's bad habits take over at Exxon Mobil.

[dipsydoodle]

3. BP shares have risen 9% today

http://www.google.co.uk/finance?client=ob&q=LON:BP

[katandmoon]

4. If it would be a good thing for Exxon it could only be a bad thing for us

[slackmaster]

5. No

:shrug:

[Cal33]

6. Exxon is already too big. Let B/P be divided up among the

small oil companies. We've had enough of "too big to fail.

[blindpig]

7. Why encourage monopoly?

Why should those investors be spared any pain, they have profited mightily on this company, let them feel it's pain.

Expropriate without compensation.

[Stinky The Clown]

8. We're pretty much on the same page

I want us to confiscate all of BP's US operations, nationalize them, settle the claims, and sell off all but the oil rights to the highest bidders.

The oil rights belong to the people.

[ellenfl]

9. 'those investors' are a lot of americans. but i agree with

no monopoly. but do we really want such a progressive oil company ('beyond petroleum'), to stop its innovative alternative energy plans? :sarcasm:

ellen fl