Originally Posted by Quickinvestment
How low will the stock go? is the question.
Should be interested.
I found an interesting description of the BP situation.
''BP CEO Tony Hayward's three-year mandate to restore BP's image through operational improvements took a body blow as the firm pursues an all-out effort to stop the Macondo oil spill in the Gulf of Mexico. BP may have the cash resources and funding options to cover the costs to stop the oil leak, contain the oil spill, and repair damaged Gulf Coast shorelines. However, it may take years for BP to resolve regulatory and legal issues--and, more importantly, to rebuild its reputation.''
I think this is a very good description of what they will have to deal with, the obama administration wont let this go, this will push stronger reform and they will use BP as the Oil dart board instead of Exxon. Exxon will come out of this as
1) with a much better public image, it also goes directly towards what their commercials dictate
2) With BP down and a little shaky for a while to come it will be Exxon time to move ahead and possibly increase their reserves. Their efficientcy is already incredible as it is.
3) they might also be interesting in expanding their Canadian operations in the oil sands via their Imperial Oil extention in canada.