For those daring, BP is off about $10 per share from $61 to $51. Market cap dropped $30 billion.
Yield is 6%.
Exxon paid $4 billion for their oil clean up 20 years ago, today that is $7 billion. Now this one is in the Gulf, so bet ya the costs will be at least double.
So....may be something to watch, as well, the general market. Seems bit toppy here.
I would wait....I think BP will be taken to the "cleaners"...so bit lower prices
Brett Arends on BP - WSJ.com
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