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Estimates are always conservative during disaster's.
Man is always unable to fix oil spills. It takes nature decades to undue.
The unknown becomes the excuse of Business and Politics.
Citizens take it in the shorts. EVERYTIME.
Hurricanes will move the blob all the way up the east coast.
Conclusion!
Invest in West coast seafood suppliers.
Good idea. The oil spill tech. has not been improved on in 30 plus years, yet , they just keep drilling deeper....that they seem not to have a problem with. Why would anyone invest in BP., knowing what they have done....All about investing? Sure this thread is about stocks, but public perception ,and the cause and effect will drive the prices and the overall worth of any company. Oil Companys are toxic now, lets see what Obama says tonight.......
Obama IS all about perception also. Its high time he addresses the people, regardless if anything concrete comes from it tonight..... My guess he will anounce BPs reserve funding plan for the clean up. I am still not sure about the dividends, could still happen.
I agree with you.^^ I wonder if anyone will ask a tough question like Why didnt he accept the help the Dutch offered. They have a lot of spill clean up vessels.
Obama will likely say anything little of value, but unlike most investments, its price seems to move with what Obama says. So I'd be careful holding BP into his speech. It's a total wild card as to what he says, of course.
Word on the street is that BP is talking to a lot of banks to borrow about 5 billion USD. Whatever happened to their assets
Fitch has given them a beating too.
To make matters worse, lightning has struck a collecting vessel.
It's highly unlikely that they are going to survive.
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