No way will U.S. politicians provide permission soon for BP to drill in an environmentally sensitive area. Realizing this BP has sold off underground oil in Alaska to another firm with less name recognition. Smooth move. Also a nice time to have the extra cash. Clean up costs are imprecise with estimates between $4 and $40 billion, making the $11 billion inflow from the sale attractive as a complement to BP's approximately $6 billion in cash and approximately $30 billion in operating cash flow.
Saturday, July 17, 2010
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment