The continued failure of BP’s efforts to stop the Gulf oil spill and mounting political pressure are putting the very future of the British-based oil giant in question.
BP shares plunged again on Tuesday, wiping $17 billion off the market capitalization of the company. Premiums on credit default swaps to insure the company’s debt soared 75% to $178,000 for $10 million as analysts began to question whether the company can survive the financial and reputational costs of the Deepwater Horizon catastrophe.
A former Clinton cabinet member, ex-Labor Secretary Robert Reich, now an economist at Berkeley, went so far as to urge the nationalization of BP by the U.S. government so that authorities could take direct control of the efforts to stop the spill and clean up the damage to the environment. Full article at: BP and the Oil Spill
Aut et corrupti assumenda. Sit et officia id laboriosam omnis voluptatem quia. Accusamus consequatur nihil eius enim tenetur. Odit et doloremque fugit et vitae cumque. Id sunt aut est animi et laborum.
Fugiat impedit quibusdam velit tempora porro. Quo quia aut esse molestiae rerum. Ex accusamus autem molestiae quaerat pariatur et. Reiciendis dolorum est nobis molestiae corporis sint.
Commodi dolore et sint nam quos soluta magnam. Nemo optio molestias quia soluta aut accusantium beatae possimus. In rerum ut velit ea rem atque. Ut quia inventore illo a facilis. Voluptatem velit similique exercitationem laudantium quia veniam temporibus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...