Baltimore, MD (Vocus) June 4, 2010
The business fallout from the BP oil spill could affect all oil companies – not just BP, according to a new article from Money Morning. But, the spill could also create opportunities for investors who know where to look.
As oil from BP’s Deepwater Horizon oil spill continues to gush into the Gulf of Mexico, the likely long-term affects of the spill seem more and more dire. If the flow of oil isn’t capped by August, public anger against BP and against deep-sea drilling in general may put BP out of business and set deep-sea drilling around the United States back for years – or even decades.
Money Morning Contributing Editor Martin Hutchinson, a former merchant banker and market historian, thinks the business fallout from the oil spill could be more widespread than Wall Street realizes.
As was true of the Three Mile Island nuclear accident of 1979, the BP oil spill could end up causing massive damage to companies that were in no way involved with the tragedy. Risks of deep-sea drilling will be reviewed, new rules will be enacted, and the energy business could be changed forever.
In his new article in Money Morning, Hutchinson explains:
· How the BP oil spill will affect oil companies around the globe
· Other oil fields that could be vulnerable to a similar accident
· Where the world will look for oil if it’s determined that deep-sea drilling isn’t viable
· Two stocks poised to take off in the aftermath of the BP oil spill
Find out everything investors need to know in the wake of the BP oil spill in: Two Energy Stocks for a Post-Oil-Spill World
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