The world economy has once again dodged Armageddon. The European Union finally forged a Greek bond deal, and a rescue fund big enough to avoid a catastrophic, Lehman-like contagion event. At the same time, the U.S. economy moved away from the threat of recession. In response, stocks are soaring. We’ll live to see another day.
BP's operating cash flow will be up 50 percent by 2014, the firm's CEO, Bob Dudley, told CNBC. "When we get some of the uncertainties behind us in the Gulf, as well as the many projects we have coming on stream, I believe we will be in a position to substantially increase distributions to shareholders," he said.