BP Takes Out New 52-Week and Multi-Year Lows (BP)
BP plc (NYSE: BP) gave another black eye to shareholders. All the bottom fishers are finding out that they are really just bottom sniffers. BP’s ADRs hit new 52-week lows today and shares are…
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24/7 Wall Street keeps a list of America’s biggest companies by market capitalization rates in its own proprietary Real-Time 500. The issue worth consideration here may seem rhetorical, yet it is almost hard to…
Deepwater Horizon: Leak Increases
Several media outlets are reported another disaster at the Deepwater Horizon locations. MSNBC: Oil was again gushing uncontrollably from the BP spill site on Wednesday after the company was forced to remove the containment…
Dividend Hunts, Diversifying Through MLPs (AMJ, MLPI, MLPN, KYN, KYE)
Being an income-oriented investor in chase of dividends and chasing returns of capital has driven many investors to Master Limited Partnerships, or MLPs, over the years. With Treasuries paying next to nothing for short-term…
DOE: Crude Inventory & Refining Hold High (OIH, USO, VLO)
The Department of Energy released its weekly Crude Oil and energy inventories this morning. Some real surprises were seen considering the time of year we are in and the mess in the Gulf of…
Drilling Moratorium Killed By Court, Obama Plan Rejected
The US District Court for the Eastern District of Louisiana ruled that the six month moratorium set for deepwater drilling would cause irretrievable loss to the plaintiffs and irreparable harm to their business. Hornbeck…
BP Raises Estimates Of Spill To As High As 100,000 A Day
The US government cannot count to ten using both hands. Neither can most scientists is would seem. BP plc (NYSE: BP) has the same problem. It released documents yesterday that show the flow of…
Anadarko (APC): Everything Is BP’s Fault
Anadarko Petroleum, BP’s partner in the Gulf and holder of 25% of the interest in the Mississippi Canyon block 252 lease drilling area, today said that everything was BP’s fault and nothing was Anadarko’s.…
BP’s Tony Hayward To Lose Control Of Gulf Operations
According to SkyNews, Tony Hayward, CEO of BP plc will lose control over the company’s operations in the Gulf of Mexico, the site of the Deepwater Horizon disaster. BP Chairman Carl-Henric Svanberg told the…
Ethanol Debate Will Heat Up as Subsidy Nears Expiration (ADM, VLO, PEIX, ANDE, BIOF
The federal subsidy of $0.45/gal for domestic ethanol is set to expire at year’s end, and the sparks are flying now as the embattled industry seeks to renew government payments. On one side are…
Moody’s Chops BP Rating
In another sign that there is concern about the long-term financial viability of BP plc (NYSE: BP) at least as it is structured as a corporation today, Moody’s sharply cut the UK-based oil companies…
Will Every American Sue BP?
BP’s new $20 billion escrow account to help clean up the Gulf of Mexico and those hurt by the spill does not count for much. It will hurt BP’s shareholders for a while but…
BP Loses Last Ace, Gives Into US Escrow Demand And Kills Dividend
BP p.l.c. (NYSE: BP) gave up the last ace it had in the hole, agreeing to set up a $20 billion escrow account which will be used to compensate the people and businesses harmed…
Many Americans Think Oil Spill Damage Will Be Permanent
The two most pessimistic views of the BP plc (NYSE: BP) disaster are that the flow of oil from the well cannot be stopped by human intervention and that the environmental damage from the…
Government Ups Daily Deepwater Spill Rate To 60,000 Barrels
Every time the government releases new data on the rate at which the Deepwater Horizon rig is leaking, the figure doubles. Today, the Deepwater Horizon Incident Joint Information Center reported that the rate at…