Time to buy offshore drillers?
DO Diamond Offshore bounced off its early June bottom of $60 and is at $64.43 today... after a pullback of nearly $1.50 intraday.
It is 7.4% above its 3-month low and yesterday it was as near as dammit is to swearing, to being up 10%!!
Its in the buy range for me.
Showing posts with label Gulf oil spill. Show all posts
Showing posts with label Gulf oil spill. Show all posts
Thursday, July 15, 2010
Wednesday, July 7, 2010
Avertible catastrophe
This is from The Financial Post of Canada.Full story linked above.
Lawrence Soloman makes the case ( I find it very plausible) that the contamination from the BP oil spill disaster was entirely avoidable.
The implication is that BP is responsible for the rig explosion and its consequences, but the US Federal Government headed by Barack Obama is culpable in the disaster that the contamination has caused on the Gulf Coast.
Lawrence maintains that the bulk of the contamination could have been avoided by taking up the Dutch offer of FREE equipment and expertise that was offered immediately the spill extent was known.
Had we accepted the help there would likely have been little or no oil reaching shore.
Lawrence maintains that side political issues prompted the US to refuse the offers of help and that refusal is the proximate cause of the vast contamination that subsequently occurred.
He is probably right. In an emergency I want the people with the expertise to put the fire out. I want them on the spot as soon as possible...the very last thing I want is a political intervention. Remember Nero?
He fiddled while Rome burned. Just like our emperor.
Lawrence Soloman makes the case ( I find it very plausible) that the contamination from the BP oil spill disaster was entirely avoidable.
The implication is that BP is responsible for the rig explosion and its consequences, but the US Federal Government headed by Barack Obama is culpable in the disaster that the contamination has caused on the Gulf Coast.
Lawrence maintains that the bulk of the contamination could have been avoided by taking up the Dutch offer of FREE equipment and expertise that was offered immediately the spill extent was known.
Had we accepted the help there would likely have been little or no oil reaching shore.
Lawrence maintains that side political issues prompted the US to refuse the offers of help and that refusal is the proximate cause of the vast contamination that subsequently occurred.
He is probably right. In an emergency I want the people with the expertise to put the fire out. I want them on the spot as soon as possible...the very last thing I want is a political intervention. Remember Nero?
He fiddled while Rome burned. Just like our emperor.
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