Not Logged In Log In   Sign Up   Points Leaders
Follow Us    4:33 PM

GasBuddy News Article

58
votes
BP tried to manipulate gas market, alleges trader

The Guardian -- Former employee claims Houston office dismissed him unfairly and was trying to bully the natural gas liquids market

BP faces new embarrassment in America with a court case brought by one of its former traders, who claims the company was trying to manipulate the natural gas liquids market. Drew Sickinger, who joined BP's Houston office in 2009, says the company "created a pretext" for disciplining him late last year and then unfairly dismissing him.

Filed this week in a Texan court, a lawsuit for breach of contract includes allegations that BP was trying to rig the markets "by establishing a dominant and controlling position". The court papers do not explain the basis for the rigging claims, which were immediately denied by BP. But the case is highly unwelcome for an oil company fined $30


Read the Full Article

Submitted Feb 02, 2013 By: bar1035
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: BP tried to manipulate gas market, alleges trader Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
honda0105
Champion Author Tallahassee

Posts:22,907
Points:2,210,840
Joined:Nov 2008
Message Posted: Feb 6, 2013 11:01:04 PM

Chris: doubtful. BP is already having to pay a ton of money. Not likely they will be paying a lot more than they have, so cases will be harder to win for a plaintiff.
Profile Pic
Chris46
Champion Author Dayton

Posts:43,926
Points:2,672,465
Joined:Sep 2005
Message Posted: Feb 6, 2013 9:08:01 PM

Yet anyone can claim anything about a company. A disgruntled worker perhaps?
Profile Pic
honda0105
Champion Author Tallahassee

Posts:22,907
Points:2,210,840
Joined:Nov 2008
Message Posted: Feb 6, 2013 4:54:06 AM

wait... BP not playing by the rules? Hmmm... and that suprises anyone?!
Profile Pic
goldrose1
Champion Author Cleveland

Posts:13,529
Points:2,499,950
Joined:Feb 2005
Message Posted: Feb 4, 2013 12:57:14 AM

Not surprised.
Profile Pic
eye-spy
Champion Author Quebec

Posts:7,155
Points:3,014,970
Joined:Feb 2005
Message Posted: Feb 3, 2013 7:28:30 PM

Unreal.
Profile Pic
carloco75
Champion Author Richmond

Posts:6,282
Points:1,183,790
Joined:Oct 2010
Message Posted: Feb 3, 2013 12:03:47 AM

Bas~tards...
Profile Pic
NemoIL
Champion Author Illinois

Posts:5,272
Points:1,861,220
Joined:Aug 2008
Message Posted: Feb 2, 2013 11:42:20 PM

What else is new.
Profile Pic
silverfoxv65
Champion Author Michigan

Posts:7,106
Points:1,828,480
Joined:Sep 2009
Message Posted: Feb 2, 2013 11:35:46 PM

They think they are above the law.
Profile Pic
boatfloyd
Champion Author Jacksonville

Posts:4,344
Points:988,565
Joined:Mar 2012
Message Posted: Feb 2, 2013 11:18:00 PM

BP wants all the Money.
Profile Pic
pinofl
Veteran Author Miami

Posts:364
Points:70,120
Joined:Dec 2012
Message Posted: Feb 2, 2013 11:15:39 PM

uff
Profile Pic
N5EXY
Champion Author Austin

Posts:8,086
Points:2,110,245
Joined:Jul 2004
Message Posted: Feb 2, 2013 11:14:11 PM

Bush again.
Profile Pic
101Speedster
Champion Author Ventura

Posts:31,636
Points:2,859,905
Joined:May 2005
Message Posted: Feb 2, 2013 11:13:37 PM

Big Oil manipulate? LOL
Profile Pic
rahcat
Champion Author Grand Rapids

Posts:5,285
Points:1,263,925
Joined:Jan 2010
Message Posted: Feb 2, 2013 11:12:48 PM

How else can BP recoup their loses in the Gulf?
Profile Pic
DrLyon
Champion Author Michigan

Posts:8,622
Points:1,753,365
Joined:May 2006
Message Posted: Feb 2, 2013 11:11:55 PM

Gosh...
Profile Pic
heartbroken2010
Champion Author Ottawa

Posts:6,915
Points:1,497,710
Joined:Aug 2010
Message Posted: Feb 2, 2013 11:11:47 PM

Hmm.
Profile Pic
TheSicilian
Champion Author Jacksonville

Posts:7,957
Points:2,069,700
Joined:Feb 2009
Message Posted: Feb 2, 2013 11:10:44 PM

really
Profile Pic
yakstar
Champion Author Montreal

Posts:4,800
Points:1,059,450
Joined:Jan 2012
Message Posted: Feb 2, 2013 11:09:29 PM

probably true?
Profile Pic
unicornpmb
Champion Author Buffalo

Posts:11,079
Points:2,230,570
Joined:Sep 2005
Message Posted: Feb 2, 2013 11:07:24 PM

Must be a first.
Profile Pic
Tiernan
Champion Author Chicago

Posts:5,987
Points:1,417,180
Joined:Sep 2005
Message Posted: Feb 2, 2013 11:07:07 PM

Astonishing - not.
Profile Pic
snagged
Veteran Author Akron

Posts:446
Points:275,280
Joined:Oct 2012
Message Posted: Feb 2, 2013 11:06:17 PM

No They wouldn't do that.
Profile Pic
JasTheAce
Champion Author Raleigh

Posts:3,497
Points:769,785
Joined:Nov 2012
Message Posted: Feb 2, 2013 11:05:24 PM

doubt it
Profile Pic
pgerassi
Champion Author Milwaukee

Posts:13,494
Points:2,730,990
Joined:Apr 2007
Message Posted: Feb 2, 2013 11:03:10 PM

Greed strikes again.
Profile Pic
cheaper0ON
Champion Author Ontario

Posts:3,538
Points:997,305
Joined:Jan 2012
Message Posted: Feb 2, 2013 11:02:36 PM

Bad.
Profile Pic
ManOfLeisureII
Champion Author Philadelphia

Posts:4,425
Points:1,051,690
Joined:Jan 2012
Message Posted: Feb 2, 2013 11:02:06 PM

Nooooo....really??? I can't believe it.
Profile Pic
carloco75
Champion Author Richmond

Posts:6,282
Points:1,183,790
Joined:Oct 2010
Message Posted: Feb 2, 2013 10:59:59 PM

Greed much...?
Profile Pic
chuckhermann
Champion Author New York

Posts:1,698
Points:909,025
Joined:Jun 2011
Message Posted: Feb 2, 2013 10:59:52 PM

Unhappy ex-employee with a grudge, or a good guy who kept quiet while he was getting paid? Wish he had had the backbone to report while he was still working there.
Profile Pic
nd73
Champion Author Grand Rapids

Posts:1,144
Points:527,790
Joined:May 2007
Message Posted: Feb 2, 2013 10:59:23 PM

Um, uh, oh, it's all Bush's fault!!
Profile Pic
HA4CNN
Champion Author Toronto

Posts:7,981
Points:2,101,015
Joined:Dec 2006
Message Posted: Feb 2, 2013 10:59:01 PM

Run them out of town.
Profile Pic
KhelbenArunson
Champion Author Michigan

Posts:7,001
Points:1,310,220
Joined:Apr 2008
Message Posted: Feb 2, 2013 10:58:25 PM

crucify them.
Profile Pic
tdc007
Champion Author Lexington

Posts:3,321
Points:963,360
Joined:Feb 2012
Message Posted: Feb 2, 2013 10:57:48 PM

Not surprised.
Profile Pic
mrbee
Champion Author Little Rock

Posts:6,349
Points:3,065,705
Joined:Oct 2005
Message Posted: Feb 2, 2013 10:52:34 PM

Awaiting the outcome.
Profile Pic
clermont40miles
Champion Author Cincinnati

Posts:13,896
Points:2,367,510
Joined:Apr 2008
Message Posted: Feb 2, 2013 10:52:08 PM

Whistle blowers pay a price. They know it beforehand, yet they feel it is so important they are willing to pay the price.

Rigging markets needs to be exposed.
Profile Pic
Aviator_Rob
Champion Author New York

Posts:6,775
Points:999,585
Joined:Mar 2012
Message Posted: Feb 2, 2013 10:51:44 PM

Please explain how the Obama administration is friends with BP, @5Golfer8.
Profile Pic
jtfftj
Champion Author New Hampshire

Posts:2,711
Points:1,793,940
Joined:Sep 2005
Message Posted: Feb 2, 2013 10:51:42 PM

Glad I don't any stock in BP, or any major media companies either. War of words, expensive too.
Profile Pic
must87searcher
Champion Author Maryland

Posts:11,496
Points:2,378,775
Joined:Apr 2008
Message Posted: Feb 2, 2013 10:51:20 PM

There are always so bad people arouind.
Profile Pic
Aviator_Rob
Champion Author New York

Posts:6,775
Points:999,585
Joined:Mar 2012
Message Posted: Feb 2, 2013 10:50:11 PM

If Jim Carrey wants to do another "Liar Liar" movie, he should play an oil company spokesman.
Profile Pic
SavALot
Champion Author Virginia Beach

Posts:10,601
Points:2,288,760
Joined:Apr 2005
Message Posted: Feb 2, 2013 10:49:13 PM

surprise surprise bp at it again
Profile Pic
Buddy2264
Champion Author Tampa

Posts:14,302
Points:2,960,945
Joined:Oct 2005
Message Posted: Feb 2, 2013 10:47:08 PM

Will be interesting to see what the facts are..
Profile Pic
Math6149
Champion Author Jacksonville

Posts:1,134
Points:2,290,515
Joined:Jan 2007
Message Posted: Feb 2, 2013 10:45:47 PM

Why not?
Profile Pic
bmsgolf
Champion Author Amarillo

Posts:4,563
Points:1,040,465
Joined:May 2011
Message Posted: Feb 2, 2013 10:44:35 PM

No way
Profile Pic
dasimon
All-Star Author Florida

Posts:556
Points:586,250
Joined:Mar 2011
Message Posted: Feb 2, 2013 10:44:24 PM

Go figure
Profile Pic
gasmack
Champion Author Ventura

Posts:3,558
Points:1,215,020
Joined:Feb 2011
Message Posted: Feb 2, 2013 10:43:51 PM

Could be another example of the greedy, rapacious behaviors of BP management that have been previously exposed.
Profile Pic
veemotors
Champion Author Alberta

Posts:1,314
Points:106,975
Joined:Jun 2008
Message Posted: Feb 2, 2013 10:43:40 PM

more oil and gas produced than before but higher prices.
Profile Pic
bearzz
Champion Author California

Posts:3,957
Points:998,955
Joined:Mar 2011
Message Posted: Feb 2, 2013 10:42:21 PM

Meh . . .
Profile Pic
Focus2
Champion Author Illinois

Posts:8,163
Points:2,109,290
Joined:Mar 2006
Message Posted: Feb 2, 2013 10:37:34 PM

I don't doubt that, but I don't think they are the only one. I read of some energy companies trying to capture contracts with other countries to export LNG to them. I got this notice in an e-mail yesterday from an Energy promoter. It will put more money in the pockets of Big Energy, establish a world price for liquified natural gas exports, and we will pay world demand prices here at home. Just like management by OPEC isn't it?

"Thanks to booming natural gas production, the U.S. has an historic opportunity to begin supplying the world with liquefied natural gas.

Unfortunately, red tape is standing in the way of letting this happen. The Administration is asking for comments to decide whether they will allow LNG exports and create new demand for U.S. natural gas. This will lead to more production and more jobs across the nation."
Profile Pic
TxPDawg
Champion Author Austin

Posts:1,423
Points:889,940
Joined:Mar 2011
Message Posted: Feb 2, 2013 10:33:18 PM

right
Profile Pic
esquared
Champion Author Oklahoma City

Posts:10,106
Points:2,470,070
Joined:Jan 2006
Message Posted: Feb 2, 2013 10:33:05 PM

I'm shocked, shocked I tell you!
Profile Pic
RitaVespa
Champion Author Oregon

Posts:4,089
Points:1,322,505
Joined:Jan 2011
Message Posted: Feb 2, 2013 10:32:33 PM

Not a surprise here. Doubt anything will happen
Profile Pic
ntass1
Champion Author Edmonton

Posts:6,384
Points:1,328,980
Joined:May 2011
Message Posted: Feb 2, 2013 10:31:30 PM

surprise
Profile Pic
5Golfer8
Champion Author Tucson

Posts:4,652
Points:891,420
Joined:Jun 2011
Message Posted: Feb 2, 2013 10:30:16 PM

Crooks will be crooks especially when their Obama's buddies why else would they get away with the damage they caused in the gulf.

[Edited by: 5Golfer8 at 2/2/2013 11:31:22 PM EST]
Post a reply Back to Topics