Gulf Oil Spill

Well, I’d say that the fact that BP stock is at a fourteen year low is karmic retribution for the way BP has been handling the Deepwater Horizon oil spill; but the stock price doesn’t really hit the company, and most of the large investors are likely to weather the stock price storm until the public forgets about what a horrible company BP is.

Though — the public might not forget too quickly, because the incompetence of BP has now put the problem squarely into hurricane season, and the $2.35 billion that BP has spent to date on the issue could be a pittance compared to what it might cost them if a tropical storm hits the Gulf… and of course the storms have started in what forecasters have indicated is likely to be a very active season.

Originally posted 2010-07-03 02:00:19.