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Insurance Rates up 50% for Oil Companies – Thanks BP!

| Monday June 7th, 2010 | 10 Comments

The oil spill is Bad News with a capital “B” for enviros, even those of us who lean toward the critically optimistic approach to environmentalism. With oil still leaking in the Gulf after nearly two months, the increasingly cumbersome remediation strategies coupled with increasingly  ridiculous names (I’ve got my money on Death Squad Burst as the cure) have many people plugging their ears to news updates since the oil leak itself refuses to be plugged.

If you are searching for a ray of hope- here’s a good one for you. Business Green is reporting that the companies that insure oil giants like BP and its brethren have realized that their risk assessments for offshore drilling might just be missing a factor or two. This stuff is expensive when it goes bad, apparently. Who would have guessed it?

The news comes on the heels of BP’s credit rating drop in the books of both Moody’s and Fitch– two of the world’s biggest credit rating agencies. The result is that companies who want to engage in deep offshore drilling are going to be paying a lot more to insure this risky practice- fifty percent more for projects like Deepwater Horizon and ten-fifteen percent more for similar projects in shallower waters.

As the hunt for oil reserves requires drillers to go further and further and deeper and deeper, these operations become more expensive to undertake and the increased cost of insurance drives up the total cost of doing oil business. This makes alternatives like energy efficiency upgrades, smaller cars, and cleaner sources of power increasingly cost competitive. I say bring it on.

To paraphrase Sarah Palin, “Bill, baby bill”


▼▼▼      10 Comments     ▼▼▼

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  1. September 24, 2010 at 2:40 am PDT | marco kunkel writes:

    We are direct providers of Fresh Cut BG, SBLC, MTN, Bonds, Bank draft and CDs which we have specifically for lease. We do not have any broker chain in this offer or get involved in Chauffer driven offers. We deliver with time and precision as sethforth in the agreement. You are at liberty to engage our leased facilities into trade programs as well as in signature project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges and any other turnkey project(s) etc. Our terms and Conditions are reasonable.
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  2. May 22, 2012 at 3:08 am PDT | Sivarama Pillai writes:

    Dear Sir/Ma

    We have direct providers of Fresh Cut BG, SBLC and MTN which are specifically for lease. Our bank instrument can be engaged in PPP Trading, Discounting, Signature Project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, Construction of Dams, Bridges, Real Estate and all kind of projects.

    If you have need for corporate loans, International project funding, etc. or if you have a client that requires funding for his project or business, We are also affiliated with lenders who specialize on funding against financial instruments, such as BG, SBLC, POF or MTN, we fund 100% of the face value of the financial instrument.

    Thank you.
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  3. March 02, 2013 at 4:17 am PDT | James Allen writes:

    Are you in need of a Loan/Funding for a project? Have you been trying to obtain a Loan from any of the Banks or Loan Companies and got Ripped off and they have refused to grant you the Loan? we offer all types of non-recourse Loan and funding at a low Interest Rate of 2% both long term and short term.

    The categories of Loan/financial funding offered include but not limited to: Business Loan, Personal Loan, Company Loan, Mortgage Loan, debt consolidation and financial funding for both turnkey and mega projects E.T.C. from a minimum of Euro/US$1Million to Euro/US$5Billion Max.

    We also also specialize in lease and sales of Bank Guarantee {BG}, Standby Letter of Credit {SBLC}, Medium Term Notes {MTN} and Confirmable Bank Draft {CBD}, this financial instrument is issue from AAA Rated bank such as HSBC Bank, UBS Zurich, Barclays Bank , Standard Chartered Bank E.T.C.

    The financial instrument can be invested into High Yield Investment Trading Program {HYITP) or Private Placement Program (PPP). We are direct to a genuine and reliable Financial Organization, without broker chain or chauffer driven offer.

    Kindly get in touch for further details and procedure.

    Regards

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  4. July 02, 2013 at 9:28 am PDT | Sekaran Sebastian writes:

    Dear Sir/Ma,

    We are direct provider for BG/SBLC specifically for lease, at leasing price of (5.0 + 0.5 + X)% of face value, Issuance by HSBC London / Hong Kong or any other AA rated Bank in Europe, Middle East or USA.

    Our BG/SBLC Financing can help you get your project funded, loan financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding : For further details contact us with the below information.

    Name: Mr. Sekaran Sebastian Chelliah
    Email:~ bglease.sekaran@gmail.com
    Skype ID: bglease.sekaran

    Intermediaries / Consultants / Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together

    Regard,
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  5. September 12, 2013 at 6:44 am PDT | providermandate writes:

    We offer fresh cut bank instrument for lease/sale, such as BG, SBLC, MTN, Bank Bonds, Bank Draft, T strips and others. Leased Instruments can be obtained at minimal expense to the borrower compared to other banking options. This offer is opened to both individuals and corporate bodies.

    Description of Instrument:
    1.Instrument: Bank Guarantee (BG)/SBLC
    2.Total Face Value: MINIMUM 1MILLION EURO/USD – MAXIMUM 100BILLION EURO/USD
    3.Issuing Bank: HSBC London or AA rated Bank in Western Europe or USA.
    4.Term: One Year, One Month
    5.Leasing Price: 5% of Face Value plus 0.5% Lessor agent [Closed] & X% Lessee agent (open)
    6.Delivery: SWIFT TO SWIFT
    7.Payment: WIRE TRANSFER
    8.Hard Copy: Bonded Courier within 7 banking days.

    Thank you.
    Sorin Lassmann
    For further inquiries:
    Contact: providermandate.ls@gmail.com
    Skype ID: ls.nicu

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  6. April 04, 2014 at 4:57 am PDT | providermandate writes:

    I have a provider who is ready, willing and able of delivering banking instruments (BG/SBLC) for lease which can be used in all forms of projects. Our bank instrument can be used as collateral to seek for loans from different banks of choice and can be used to engage into ppp trading.

    For contacting purpose:

    Contact : Mr. Sorin Lassmann
    Email: providermandate.ls@gmail.com
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  7. May 06, 2014 at 6:52 am PDT | Gudipati Harikishan writes:

    ARE YOU AN INDIVIDUAL BUSINESSMAN OR A BUSINESS ORGANISATION THAT WISHES TO EXPAND IN BUSINESS, WHY NOT SOURCE FOR BG/SBLC FROM Gudipati Harikishan BROKERS WHO HAVE BG/SBLC SPECIFICALLY FOR LEASE AT A LEASING PRICE OF 3+0.5% OF FACE VALUE ISSUANCE BY HSBC LONDON/HONGKONG OR ANY 25 TOP AA RATED BANK IN EUROPE, MIDDLE EAST OR USA. WE ALSO SECURE FUNDING PROJECT LOANS FOR 3% APR

    Finally I will assure you of our total commitment to achieving this transaction as I always look forward to doing more business with you in future

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  8. June 07, 2014 at 10:37 am PDT | Andrey292098 writes:

    We are direct provider for BG/SBLC specifically for lease, at leasing price of (3 % +0. 5% + X% ) of face value, Issuance by HSBC Bank London , Barclays Bank London , Deutsche Bank, & AAA Rated Banks

    Our BG/SBLC Financing can help you get your project funded, financing by providing you with yearly renewable leased bank instruments. We work directly with issuing bank lease providers, this Instrument can be monetized on your behalf for 100% funding: For further details contact us
    with the below information.

    Contact : Andrey Dorofeev
    Email; andreydro.finance@gmail.com
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    Intermediaries/Consultants/Brokers are welcome to bring their clients and are 100% protected. In complete confidence, we will work together for the benefits of all parties involved.

    Thank you

    Reply Or REGISTER HERE if you are new.

  9. July 09, 2014 at 0:11 am PDT | Almutairi Abdulrazaq writes:

    Dear Sir,

    Do you need Financial Service like BG/SBLC MTN? Our Bank Instrument can be engage into Outright Discount. Feel free to write us as our terms and conditions are very reasonable. Email us so we can send you our Terms and procedure. broker.mutairi@gmail.com or Skype: broker.mutairi

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  10. July 10, 2014 at 10:13 am PDT | Zsebe Jozsef writes:

    I can deliver leased instruments to Organization or individuals, Trading, Discounting, signature project(s) such as Aviation, Agriculture, Petroleum, Telecommunication, construction of Dams, Bridges, Real Estate and all kind of projects with their preferred text verbiage as been approved by their bankers. We also proffer-sales option to interested buyers. Our terms and procedures are so flexible and workable by RWA clients. Our lease rate is (5.0 + 1)%+x%. X% IS Lessee broker’s Commission and he determines his commission. Also we have facilities to discount BG and Put you into PPP Trading. If Interested kindly reply to me via email.

    (bginstrumentmandate@gmail.com)

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