Thursday, June 10, 2010

The New Face of British Petroleum

The imagination reels to consider the cloud of death that stretches a mile to the seafloor and who knows how many tens or hundreds of miles from there.

BP has lost fully 50% of its market capitalization since that rig exploded, but the company is quite healthy with oil at $60 a barrel. The Gulf Coast will continue to feel the repercussions from that blast for decades to come - environmental and economic - as we witness and endure these and other convulsions of the dying oil economy.

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