Will BP (NYSE:BP) Be Bailed Out?

The growing claims, liabilities and cost related to the Gulf of Mexico oil spill, generates the possibility that BP (NYSE:BP) may end up being bailed out using taxpayer dollars if it is to survive, or be able to pay for its responsibilities.

Most Americans would be 100 percent against that, and it's also a question of legality concerning a foreign-based company. But bailouts can be hidden in bills, when you define a bailout as using taxpayer money to prop a company up.

Congressman Ron Paul has stated this has already happened, saying an "'upcoming supplemental bill for Gulf cleanup costs' already has "a large sum of taxpayer money' slipped into it."

One has to start wondering if the Obama administration is demonizing BP to the point where the costs are so high they'll have to declare bankruptcy, and/or be rescued in some way with taxpayer dollars.

The numbers mounting up concerning what they would have to pay out are getting so high, it's hard to see how they'll be able to come close to paying it all out.

Is this a move by the Obama administration to take charge of another major industry in America? They already have their banking pay czar heading up the $20 billion escrow fund from BP.

At this time it's doubtful if a bailout would come in the straight manner as it did in the banking, insurance and auto industries. More than likely, as Ron Paul said, it'll be slipped in here in there in a manner taxpayers won't see it.

If that's how things proceed, it'll eventually be caught onto, and we need to be more diligent than ever to see to it we're not the ones caught holding the BP bill.