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BP, Castrol, and JFR. (1 Viewer)

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Rexfiles

Rexfiles

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Interior Secretary Ken Salazar says oil spill puts survival of BP at stake - Times Online

I have been pondering this for over a week now.

Yes, this is a tremendous disaster. Both in human and environmental toll.

Also a looming economic disaster.

That said, I am just wondering out loud if this event will have a ripple effect over what Castrol and BP spend on motorsports, specifically JFR, in the US.

Yes, it still could give them positive exposure and image, to a slight degree, but if they are savaged by fines and lawsuits, I wonder if the Castrol brand will survive into the next decade?

Like I said, just wondering out loud.............

REX
 
Registered member said:
Interior Secretary Ken Salazar says oil spill puts survival of BP at stake - Times Online

I have been pondering this for over a week now.

Yes, this is a tremendous disaster. Both in human and environmental toll.

Also a looming economic disaster.

That said, I am just wondering out loud if this event will have a ripple effect over what Castrol and BP spend on motorsports, specifically JFR, in the US.

Yes, it still could give them positive exposure and image, to a slight degree, but if they are savaged by fines and lawsuits, I wonder if the Castrol brand will survive into the next decade?

Like I said, just wondering out loud.............

REX
Click to expand...

Living in the same state as Mr. Salazar, I'd put his statements into holding as much water as a single-roll piece of toilet paper trying to dam the Colorado River in Nevada.

I'd be shocked if BP pulled back their positive PR campaigns right now or in the "NEAR" (next year) future. And let's face it, Ashley, Robert, Court, Brit-Brit and even the 'ol trucker' himself are a pretty good Marketing and PR campaign for Castrol. However, if things do not improve in sales, rest assured even the JFR team won't be able to recoup the losses BP will have as a result of this incident. The Drag Racing community isn't that big....and there are other players in the game as well.. :eek:
 
I just wish Mr. Salazaar would go ahead and name "the obvious mistakes that were made". Trying not to make it political,but my guess is that his answer would be that "oil got in the water".........:D
 
Registered member said:
I just wish Mr. Salazaar would go ahead and name "the obvious mistakes that were made". Trying not to make it political,but my guess is that his answer would be that "oil got in the water".........:D
Click to expand...

and i'd love to see owners, drivers and crew chief's in drag racing actually say what they think of 4-wide, and NHRA leadership too when asked by the media... ;)
 
BP said they will pay for the clean up, but what does that include? Hopefully the industry that depends on the Gulf waters will be compensated somehow. People are out of work now because of this. I live on the coast and prices are starting to reflect this.
 
What prices Glenn? Fuel prices?

Inventories in the US are near all time highs. A world market determines the price of crude oil, and the crack spread (and largely a second world market nowadays) determines the last third of the price of what goes in your tank. That well has very little to do with prices, in fact, a Nissan SUV sitting in Times Square has infinitely more impact.

The industry has learned a lot since the Bay of Campeche accident, but drilling at these depths ain't easy. Very sad, and much to be done to fix this OSM, and avoid it in the future.

I've heard it said, that this well will have to flow at it's current rate for at least 2 more years to top the Bay of Campeche accident.
 
I didn't realize Castrol was part of BP - thought they were free standing outfit (with Brit roots). Learn something new everyday.

That said, it would appear that sponsorship promotion is pretty embedded in the DNA of Castrol.

history of bp|History of Castrol|about BP|bp.com

Offshore drilling has had a good safety record. This tragedy will give the ANTI-Drill-baby-drill folks amunition to stall any attemps to get closer to energy independence real soon.
 
Registered member said:
What prices Glenn? Fuel prices?

Inventories in the US are near all time highs. A world market determines the price of crude oil, and the crack spread (and largely a second world market nowadays) determines the last third of the price of what goes in your tank. That well has very little to do with prices, in fact, a Nissan SUV sitting in Times Square has infinitely more impact.

The industry has learned a lot since the Bay of Campeche accident, but drilling at these depths ain't easy. Very sad, and much to be done to fix this OSM, and avoid it in the future.

I've heard it said, that this well will have to flow at it's current rate for at least 2 more years to top the Bay of Campeche accident.
Click to expand...

Sorry Jeff for not being more clear but in particular, I am speaking of the seafood industry. I haven't spoken with anyone in the seafood restaurant business that are local, but I am sure they are sweating bullets right now.

How will businesses that depend on the coastal environment for income be compensated? Commercial fishermen that cannot fish, people that rent homes to people wanting to vacation on the beach that now do not want to rent because of this mess. People that have the businesses that rely on the tourists.

I just read in the paper this morning that the 100 ton box is not working due to ice formations are plugging it up.
 
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Glenn this Oil spill will no doubt have huge implications on the Gulf Coast! However Oil and gas make up a HUGE part of that regions economy as well, and when Obama and other politicians do everything they can to make Oil companies the Great Satan! Without Oil this country comes to a grinding halt, where would Tires, asphalt, Plastics, electronic products come from?? Oh I forgot Fuel for Industry, Air Travel and Transportation.
 
Registered member said:
Glenn this Oil spill will no doubt have huge implications on the Gulf Coast! However Oil and gas make up a HUGE part of that regions economy as well, and when Obama and other politicians do everything they can to make Oil companies the Great Satan! Without Oil this country comes to a grinding halt, where would Tires, asphalt, Plastics, electronic products come from?? Oh I forgot Fuel for Industry, Air Travel and Transportation.
Click to expand...

You're right Joe, we have yet to see the true impact of this. Believe me, I think we should drill anywhere there is available oil. Living right down the road from the world's 5th largest refinery, I fully understand what it means to us.

After reading another article, it appears there is no quick fix coming for the problem in the gulf.
 
IMO JFR will not be effected by the BP oil spill in the gulf; that being said,
i've always wondered where JFR ranks with north american ad budget for
castrol.........i'd guess he's a major player for them in this market.
 
Registered member said:
.........Obama and other politicians do everything they can to make Oil companies the Great Satan!......
Click to expand...

with the emphasis on green energy - the large american
based oil companies may be the last privately owned entities that have
as much power if not more than our gov't. - i do believe there's a struggle
between the two rite now
 
Registered member said:
Glenn this Oil spill will no doubt have huge implications on the Gulf Coast! However Oil and gas make up a HUGE part of that regions economy as well, and when Obama and other politicians do everything they can to make Oil companies the Great Satan! Without Oil this country comes to a grinding halt, where would Tires, asphalt, Plastics, electronic products come from?? Oh I forgot Fuel for Industry, Air Travel and Transportation.
Click to expand...

How quickly we forget that Obama came out for expanded drilling just a few weeks before this mess. Who's the "great Satan"?
 
Politics aside (which is where I wanted this to stay away from:rolleyes::cool:), I still see warning signs that BP is in definite big trouble now.

My basic premise, was, will this impact BP's US motorsports financial involvement......not which political party is to blame.

They have lawsuits coming from every angle now.

This slick goes on another 2-3 months, (and the chance it could blow out and dump 10-12 times what it is losing now) and rounds Florida's coast, sorry, from what I am reading and hearing, BP is toast.

REX
 
~

You raise an interesting question Rex: can BP survive this mess. I know the same thing was said about Exxon after the Valdez disaster, yet XOM is one of the largest companies in the world today. Johnson and Johnson after the Tylenol scares survived and thrived. A lot depends on their approach, and while slow on the uptake, BP seems to be out there today working on options and talking a lot.

There's little doubt this will cost BP a lot of money, but I think survivability is an entirely different matter for a company with a market cap of ~$150B. Whether they consider drag racing a viable marketing medium is also a completely separate issue, and depends a lot more on NHRA's success and failure than what happens in the gulf.
 
Registered member said:
This slick goes on another 2-3 months, (and the chance it could blow out and dump 10-12 times what it is losing now) and rounds Florida's coast, sorry, from what I am reading and hearing, BP is toast.

REX
Click to expand...

Blow out?? What do you think it is doing now? :) In case you have read something that has confused you, it is total open flow now........

BP has already spent north of $350M and will spend much more. This will be a real test but I personally see them pulling through. Like was said earlier, the dollars being spent on JFR pale in comparison to the big picture spending BP is involved with on a regular basis.
 
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