BP & Things

With all the recent support for crucifying the company BP to the cross for its part in the accident that occurred in the Gulf of Mexico, I can't help but say no thanks. When everyone is piling onto the train, I usually have to take a step back and reassess things.

First off, it was an accident. And secondly, they are doing everything they can to try and stop it. An accident like this has never occurred and despite our technological and engineering prowess that we believe to have, tackling this engineering problem involves careful planning and execution, which takes plenty of time. Furthermore, as engineers know, there will always be bugs and unknown variables that will affect your design negatively. So for all you who think BP or Obama are not doing enough to stop it, why don't you get yourself an engineering degree before we hear from you again.

For the Republicans, please stop getting on Obama's back for "not doing enough." These are international waters, and as such I believe it should be a joint effort between nations in order to help BP solve this problem. Now is not the time to play politics either.

For the Democrats, you need to realize that taking the company BP out to backyard for a genuine beat down is not in the best interests of this country. With BP being one of the largest companies in the world, and it being not only an oil company but also an energy company, the number of employees a company like that employ should be a staggering amount. Attempting to bring down a company of that size will wreak havoc on the economies of the world.

As I mentioned, BP is not just an oil company that does nothing but find oil, refine, and sell. Indeed it is not. It is an energy company that does commit millions if not billions of dollars into research and development. If you fail to understand the significance of R&D in a company, then it is likely that you fail to have an engineering degree.

Lastly, if you still feel that BP needs to be punished, then why the hell are you not calling for the crucifixion of all the banks that stole your money in 2007-2008, and likely will continue to do so this year. My point it this: BP has problems in the Gulf it needs to take care of. It is doing so and has pledged to do so with their own money. That's all we can ask for.

As far as the BP stock goes... well, let's just say it's best to not be in that stock. I would be wary of shorting BP on the idea that they are going to get kicked in the groin by the public and government. Why? Because that's what everyone thinks! I'd be more inclined to watch for a potential short-term bottom and go long for a short squeeze. In other stock news, much to the chagrin of iLovers, I have a bearish view on AAPL. My reading of AAPL charts tells me that AAPL could be trading at the price of a new iPhone 4 16GB model (with an AT&T 2-year subscription agreement). For those of you not in the know, that would be $199.

P.S. If you ever have any questions or would like to see a chart of what I'm talking about, let me know!