While the BP oil spill costs $6 million a day, the wind, the sun, moving water, biomass, and geothermal resources don’t spill. Once the technology is in place to use them, the fuels cost nothing and therefore provide economic and geopolitical certainty.
Is the U.S. decoupling again? U.S. stock opened higher, though Greece and Spain are both down about 1 percent on concerns that contagion has not been contained and there will be more bailouts.
US stock index futures were indicating a higher open for Wall Street Monday, after Greece was offered a bailout package of more than $145 billion by the European Union and the IMF.
The surface area of a catastrophic Gulf of Mexico oil spill quickly tripled in size amid growing fears among experts that the slick could become vastly more devastating than expected.
Officials from BP have successfully tested a chemical that attaches itself to oil and weighs it down to the ocean floor, where there are natural forces that absorb the oil, CNBC has learned.
As fears mount that the leak from a seabed oil well could spiral out of control, the White House said President Obama would tour the area “in the next 48 hours,” The New York Times reports.
The question for markets in the week ahead will be whether to ride a wave of better economic and earnings news—or give in to a growing list of worries.
Stocks shed 1.4 percent Friday, . Goldman Sachs tumbled on reports of a federal probe, prompting investors to unload bank shares. The Dow was down more than 130 points, or 1.2 percent, with 10 minutes to go on the clock.
The new reputational/political risk associated with the market in key stocks (BP, Goldman, Massey) is the biggest story of the week. A good example of the uncertainty in the trading community is a note sent out by Buckingham Research this afternoon regarding Goldman. It is titled: Litigation/Political Risk Too Difficult to Handicap...
Oil service names weighed heavily on the S&P 500 as oil from the massive spill in the Gulf of Mexico oozed into Louisiana's ecologically rich wetlands.
Oil analysts and environmental experts say the economic impact of the Gulf coast oil spill could grow dramatically, as the leak continues and the slick spreads.
High winds and rising surf are forcing the oil to shore more quickly and over a wider space. Florida has declared a disaster area, and there is little doubt that it will affect Mississippi and Alabama, too
With oil from a huge spill in the Gulf of Mexico beginning to lap at the shores of coastal Louisiana Friday, crews are getting in place to assist wildlife. Scenes like this are familiar to Procter & Gamble, the maker of Dawn dish detergent, which is often used to clean birds' oil-soaked feathers.
Advocating the old Wall Street saying, "sell in May and then go away," a European analyst said there are "dark clouds ahead" in the markets.
Also, Cramer's take who's to blame for the Gulf oil spill, and thoughts on why Goldman Sachs stock is still struggling.
Stocks continued to fall in the final hour as Goldman Sachs tumbled on reports of a federal probe, prompting investors to unload bank shares.
Once again Goldman Sachs is the story of the day – but this time the drama surrounds the stock’s price action.
Spills, investigations, and reputational risk: Several companies in 3 different areas (energy, financials and coal) are experiencing problems Friday.
BP says that the offshore drilling accident could cost the company several hundred million dollars. But the long-term damage to BP’s reputation is likely to be far higher, says the NYT.
Stocks were lower in midday trading amid disappointing economic news, with financials and technology leading the way.