Archive for June, 2010
Relief Wells: An Important Clarification
In case you’re one of those readers who don’t read the Comments section, you should go back and look at the comments on yesterday’s post. Thanks to Quidam, we learn that: • Canadian regulations about relief wells are not quite as simple as the Reuters story suggested. • Oil companies do not actually have to [...]
The Long Arm Of The Stock Market
This morning, on the NYSE, the shares of BP PLC opened at $36.91. That was $6, or 14%, below Friday’s close of $42.95. On April 19, the day before the Deepwater Horizon oil rig went kaboom, BP closed at $59.48. Since then, the shares have lost 38% of their value. In dollar terms, stockholder wealth [...]