Posts tagged “BP”
BP has made claims that it has not blocked media from covering the oil spill. But a contract that became valid May 2 suggested otherwise.
It was about six weeks ago that the man I work for walked into my office and asked what was happening in the world of energy. “This oil leak in the Gulf of Mexico”, I told him, “is going to be a monumental disaster.” He hadn’t heard about it yet, but my views on it at the time were 1). They weren’t going to have an easy time getting the leak stopped; 2). It would drastically shift the debate on offshore drilling. I published an essay on the spill shortly after it happened in which I predicted that this would be a death blow for deepwater drilling in the U.S. Only time will tell on that one, but it has… Continue»
“We will prosecute to the fullest extent of the law anyone who has violated the law,” Holder told reporters today in New Orleans.
BP, which owns 47 percent of Alyeska, is the largest single owner of the pipeline operator. Exxon Mobil and ConocoPhillips also holds a stake in Alyeska.
Under normal circumstances, I would be all over the story of last week’s BP oil rig disaster. By now, you all know that BP suffered an explosion and a fire in the Gulf of Mexico in which lives were lost and an unprecedented leak a mile below the surface of the ocean is occurring. Because of pressing deadlines (which after this week should be dealt with) I have barely kept up with any news at all. But as I watched the news trickle in over this, I couldn’t help but think the implications will be very far-reaching. There are a number of angles in this story. It highlights the fact that the oil industry can be very dangerous, and accidents… Continue»
I am trying to climb out from under an avalanche of correspondence, and I also hope to have the “Niches” article done by Monday morning. Until then, the latest from Money Morning on BP’s new oil discovery. As I previously explained topical Money Morning content will be featured here from time to time. As always, normal caveats apply: I am not an investment advisor. I don’t endorse any specific stocks mentioned in the following story nor the ad at the end of the story; these stories are meant to spur discussion. ———————————- BP’s ‘Giant’ Discovery Gives the Gulf of Mexico New Life By Jason Simpkins Managing Editor – Money Morning BP PLC (NYSE ADR: BP) yesterday (Wednesday) announced a “giant”… Continue»
It has been a very bad year so far for helicopters ferrying passengers to and from offshore oil platforms. Today comes word of another tragedy involving BP workers: Sixteen people feared dead in North Sea helicopter crash Sixteen people were feared to have been killed today when a helicopter crashed into the sea off north-east Scotland. Police said eight bodies had been recovered from the North Sea while the remaining eight people who had been onboard were unaccounted for. The aircraft was returning from an oil platform just before 2pm when it went down 35 miles off the Aberdeenshire coast, according to the coastguard. Police said the aircraft was believed to have been flying back to Aberdeen from BP’s Miller… Continue»
For months now – off and on – I have been trying to wrap my head around the controversy over the proposed gas pipeline for Alaska. As a shareholder and former employee of ConocoPhillips – one of the involved parties – I have a vested interest. However, that’s also one of the reasons I haven’t written about this before, as I wanted to better understand the issue before writing about it. I saw that the headline story in yesterday’s Drumbeat at The Oil Drum was a story from Newsweek dealing with the controversy, and that prompted me to go ahead and write something: Pipe Dreams I am going to post some excerpts from the story in an attempt to summarize… Continue»
CNN is recommending oil stocks for 2008: Oil stocks: Best picks for 2008 They cover the integrated oil companies, the independents, the refiners, natural gas, and oil services. Here is what they said about the majors: Experts generally expect nearly all oil stock sectors to do well in 2008 – although not as well as in 2007. If you think the price of crude is going to go down, investors like Mark Gilman, an oil and gas analyst with the Benchmark Company, say go with the big boys. With their diversification, high dividends and low stock prices compared to revenue, big oil companies that produce, refine and market oil and natural gas like Exxon Mobil (XOM, Fortune 500), BP (BP),… Continue»