All eyes in Washington, Wall Street and Main Street were turned on the Congressional show trial featuring beleaguered BP CEO Tony Hayward yesterday. Hayward was a disaster. He played dumb. He stonewalled. And he never got honest about BP's colossal failure of human judgment that caused this catastrophe. But folks, seriously, what did you expect?
BP executives met in London Friday with investment bankers to discuss a likely bond offering as early as Tuesday, according to a source familiar with the matter.
The public, both the American and those throughout the world, will demand greater regulation of the oil industry in light of the BP Gulf of Mexico spill, James Mulva, chairman and CEO of industry giant ConocoPhillips, told CNBC Friday.
One company's pain is often another's gain. And BP's woes have sent this stock to an all-time high.
The Obama administration's six-month moratorium on oil drilling could benefit BP, John Kingston, director of oil at Platts, a provider of energy information, told CNBC.
The correlation of S&P 500 members to daily move in the benchmark overall has been steadily rising toward parity over the last 10 years, a sign that exchange-traded funds, electronic trading and a short-term mentality is slowly killing individual stock picking based on fundamentals.
It is an overlooked danger in the oil spill crisis: The crude gushing from the well contains vast amounts of natural gas that could pose a serious threat to the Gulf of Mexico's fragile ecosystem.
A hydrophobic sand that repels water and encapsulates oil could be one solution to soaking up all the crude from BP's leaking well in the Gulf of Mexico.
Some on Wall Street are saying that BP may have to pay lenders as much as 2.5 percent more than it typically does on similar bond issues. What does this mean for BP stock and investors?
Investors who want to avoid oil stocks in the wake of the Gulf of Mexico oil spill should look at alternative energy companies with the potential to rally such as Vestas Wind Systems and Veolia Environment, Royce Tostrams, technical analyst at Tostrams Groep, told CNBC Friday.
The drill ban could jeopardize 50,000 jobs, according to one estimate, hurting many blue-collar communities on the Gulf Coast. The NYT reports.
Facilities, by a company called Ecospshere Technologies, could be put in place within days to help lessen the damage of the BP Gulf oil spill and capture the oil for later processing, Jean-Michel Cousteau, president and founder of the Ocean Futures Society, told CNBC Thursday.
Gulf oil spill victims should file a claim as soon as possible, Ken Feinberg, head of the $20 Billion Fund to help victims said Thursday.
Is it time for the business community, and its investors, to sound a note of caution over what is happening to BP? Specifically, where is the justicial process. And, why is there no national mobilization?
As I continue my week here on the Gulf Coast of Florida, I hear more and more real and anecdotal stories of contract cancellations for new home purchases and second homeowners walking away. There is no question that while oil has barely brushed the beaches here in Pensacola, the place is awash in fear. Fear and real estate are like, well, oil and water; they don't mix well.
The CEO of MyCelx, a Georgia company with a patented molecule that bonds to oil, is hoping that her company's product will lessen the impact of the Gulf oil spill.
Buyers are walking away when sellers refuse last-minute demands, making a drop in sales worse than expected, the NYT reports.
Forgive my silence on the blog for the past two days, but I've been in beastly hot Pensacola, Florida, preparing stories on mortgage mediation, and, of course, oil. President Obama dropped by the beach yesterday to talk to some local folks, while I spent the day in empty beach front mansions and empty ocean-view condos.
With up to 60,000 barrels of oil spewing into the Gulf on a daily basis, the $20 billion Gulf fund may be something worthwhile for investors.
An oil exploration company in a sea of post-BP oil exploration stock disasters.