Is This the Death of Deepwater?
June 01, 2010
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RELATED TICKERS: APC
, BP
, HAL
The deepwater segment unravels following BP's failed maneuvers.
Excerpts:
"The entire oil industry has been forced to confront its undeniable and collective lack of preparedness for addressing a major deepwater catastrophe, and reasonable folks around the world find themselves wondering just what the heck we've been thinking by allowing deepwater production to flourish as it has without the necessary capabilities in place."
"When a company resorts to seemingly silly measures like deploying golf balls and old tires to plug a gushing geyser of subsea oil and gas, it highlights an apparent ocean of disconnect between modern society's unwavering thirst for oil and our capacity to safeguard entire ecosystems from the risk of catastrophic spills."
"At a time when the entire world is grappling with the appropriate questions that are triggered by an environmental disaster of this magnitude, tracking the investment implications can leave a strange taste in the mouth. Nonetheless, real people have real money tied up in these stocks and must continue to make informed decisions."
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