While oil companies have spent billions of dollars to drill deeper and farther out to sea, relatively little money and research have gone into finding new, improved ways to respond to oil spills in deepsea conditions like those in the Gulf of Mexico.
The Coast Guard reported Wednesday that energy giant BP has been forced to remove a cap that was containing some of the oil gushing from its ruptured Gulf of Mexico well.
The Louisiana judge who struck down the Obama administration's six-month ban on deepwater oil drilling in the Gulf of Mexico has reported extensive investments in the oil and gas industry, according to financial disclosure reports. He's also a new member of a secret national security court.
With so much attention on Chinese stocks, something that gets very little attention: US-listed Chinese companies that went public through the back door. The back door, in this case..?
Stocks powered their way higher on Friday with both the Dow and the S&P 500 closing higher for the day and for the week. How should you be positioned now?
The desk is keeping a close eye on the action in BP after shares popped Wednesday in the wake of a dividend suspension.
An oil exploration company in a sea of post-BP oil exploration stock disasters.
Get long these 4 stocks as beneficiaries of a potential BP asset sale, says Liquidator.
Is Obama going to launch the nuclear option against BP in tonight’s Oval Office speech? That option would terminate all BP oil and gas leases and suspend all federal contracts with the oil company. BP is the Defense Department’s biggest oil supplier, with a contract worth more than $2 billion yearly, according to energy analyst John Kilduff. Such a move by the president could conceivably bankrupt BP
Cramer talks with Devon Energy Chairman Larry Nichols about the industry's future.
With chatter that BP or its assets may be on somebody’s shopping list, the obvious question: Which big oil company is most financially fit to do those kind of deals? Exxon Mobil.
Stocks will navigate choppy waters in the week ahead, but could sail a bit more smoothly—barring any nasty, new surprises from Europe.
It seems unthinkable, even now, that the disastrous oil spill in the Gulf of Mexico could bring down the mighty BP. But investment bankers get paid to think the unthinkable — and that is just what they are doing. The New York times explains.
BP is trying to defend its corporate image with a major ad campaign after causing the largest oil spill in US history. The campaign includes a TV commercial featuring BP CEO Tony Hayward apologizing for the environmental disaster and explaining to viewers what the company is doing to repair the damage. The campaign has been met with mostly criticism.
The latest plan to stop the oil flowing from a BP site in the Gulf of Mexico may not work as well as originally hoped, the U.S. Coast Guard said Thursday. Many experts are now planning for the worst. What is the long-term impact of the spill on the economy? Steve Blitz, senior economist at Majestic Research discussed his insights.
Gas prices could climb higher than $5 a gallon by 2012 and oil companies could move exploration to other countries if the Obama administration’s suspension of offshore drilling continues for six months, John Hofmeister, a BP consultant and former Shell executive told CNBC Tuesday.
BP’s stock price has plummeted over the past month, sparking talk on whether it is vulnerable to a takeover. But given the massive uncertainty surrounding the costs of the oil spill, BP may prove to be a cheap, but messy target, analysts told CNBC.com.
Wall Street limped to the finish of an ugly May, dropping on European debt fears and lackluster economic news, though stocks were well off their lows heading into a holiday weekend.
This bull market will continue for "another couple of years," said Puru Saxena, CEO of Puru Saxena Wealth Management. He shared his market outlook.
Italy successfully auctioned 3, 7, & 10 year notes Friday, which should further calm markets. Bottom line: for the moment, it appears that European countries can access capital markets, with the possible exception of Greece. Now they just have to sell the austerity programs. Also: Sell in May and go to..?