BP might have insurance to cover their cleanup costs and loss of oil revenue (I don't know) but I think the concern is that this accident will bring further scrutiny at a time where big business is under greater pressure than they have been in some time and re-regulatory zeal is picking up. The public relations damage could be significant and if it dampened down the drive to increase off shore drilling along with more substantial regulation of energy trading, safety and environmental regulations, etc., it could have a material impact on BP for a longer time period than an accident like this would have in isolation.
Judah On Fri, Apr 30, 2010 at 9:21 PM, Jerry Barnes <[email protected]> wrote: > > As an aside, BP stock price is plummeting. > > I am not sure, but one would think BP has insurance for this type of > catastrophe. Their bottom line really shouldn't be effected that much. So, > If their stock was worth 65$ last week and $40 next week, does it really > mean that the company isn't worth as much as it used to be? > > Or does it mean, it will be a great pick up for a lot of people who wait for > the nadir? > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Want to reach the ColdFusion community with something they want? Let them know on the House of Fusion mailing lists Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:317041 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
