Obama's BP (NYSE:BP) Agenda Exposed!

Continuing to utilize the Obama mantra that you always must "never let a crisis go to waste," as asserted by White House chief of staff, Rahm Emanuel, the agenda and response to the BP oil spill is now being increasingly seen as being directed by radical liberal think tank: the Center for American Progress.

Here's how the Washington Wire arm of the Wall Street Journal reported it:
On May 4, for instance, the CAP’s energy and environment expert, Daniel Weiss, called on the president to name an independent commission to look at the causes of the Deepwater Horizon disaster. On May 22, he did just that.

On May 21, CAP president, John Podesta, privately implored White House officials to name someone to be the public point person for the spill response. A week later, the White House announced that Coast Guard Adm. Thad Allen would hold daily briefings on the spill, wherever he would be on any given day.

On May 26, Weiss said the White House needed to demand that BP immediately set up an escrow account with billions of dollars from which claims for Gulf state residents would be paid out.

Monday’s headlines proclaimed the president’s latest get-tough stand: BP needs to set up a billion-dollar escrow account.

When you recall the responses of the Obama administration and where they're increasingly heading, it's no surprise to see the socialist, progressives undergirding the Obama administration be the ones calling the shots behind the scenes.

This is why we oppose the special fund idea, as it gives Obama and the Democrat/socialists more money to take and redistribute as they like, rather than in the manner BP has rightly stated: to legitimate claims.

You can see where this special fund is heading, and hopefully BP has the guts to say no to it.

BP (NYSE:BP) Options Reveal Potential 63 Percent Plunge in Value

Measured by stock options in the U.S., BP (NYSE:BP) could decline in value by 63 percent in the next 30 days, based on the rising cost to clean up the oil flowing into the Gulf of Mexico.

July American depository receipts for BP stand at $12.50, the biggest increase in open interest in a contract over the last couple of weeks.

At the beginning of the month it stood at zero, an now has surged to 33,445 outstanding as of today, according to Trade Alert LLC.

Investors buying puts are looking for a continued plunge, with that already happening today, as the stock price is at $31.49 as of 11:14 AM EDT, a $2.48 fall, or 7.30 percent.

The market value of BP was at $98.05 million.