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It'd be great if we could start flying planes and driving cars on hope and solar energy tomorrow. Unfortunately, that isn't happening tomorrow, next week, next year or even the next decade, sad to say.
Until that happens, oil is a necessary commodity, and companies like BP weren't drilling 5000 ft below the surface of the gulf because it was fun or they felt like it.
Seems pointless to believe we can invest and profit in some oil companies when most homes are not up to par with available solar technology.
Savings? Sure. I save around 30% of my former electric bill using solar technology. 1.5 years and the system is fully paid. OOPS! It already paid for itself and we are reaping the bennies. To me that is investing.
It IS surprizing that oil prices per barrel are not up more. I can see that coming , it has to effect the cleanup costs and the harmed folks in the Gulf, let alone the insurance costs...... Just how much profit IS there in oil drilling anyway,how long can BP go and still be competative? No Company should be that big, that they can pay out billions upon billions,and still be profitable. Its time to rethink the industry and how it influences our enviorement....I remember when oil was 5.00 a barrel, and the industry was hurting, but did survive, with Government help.
BP PLC declined to comment Sunday on a report that it is in talks about possibly selling 8 billion pounds worth of assets, including a stake in Alaska's Prudhoe Bay oil field, to U.S. oil company Apache Corp.
Is Apache the play here...
Down 6% now and still more downward pressure. Volume going into above average range. This may see 25 dollars per share by after hours or at closing, especially if this storm system in the Gulf gets serious. Buyout and bankruptcy talks will be all the rage this weekend if the stock is mid 20's or a hurricane shows up. I seriously hope nobody bought this stock...
36.76 +2.71 (7.96%) Jul 12 4:00pm ET 36.99 +0.23 (0.63%) After Hours
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