In a recent Wall Street Journal article, Raymond James analyst Pavel Molchanov estimated the final cost to BP of the Deep Water Horizon oil spill at $63 billion. Although the company plans to recover nearly $10 billion in US tax credit for losses incurred as a result of the spill, they will still need to raise another $53 billion. Incoming BP CEO Robert Dudley will be charged with selling $30 billion in company assets.
Perhaps BP should follow its company slogan, BEYOND PETROLEUM and diversify. In April 2010, it boasted investments in over a billion dollars of alternative energy projects. But they are going to need a lot more cash to offset their heavy losses in oil for this year. Their clean-up efforts demonstrated a deep connection to the culture and technology of the 1980's. Therefore, I propose selling some retro themed games based on the adventures of their outgoing and incoming CEOs.
http://www.bpoilspilllawblog.com/2010/06/pavel-molchanov-an-analyst-at.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+BpOilSpillLawBlogCom+(BP+Oil+Spill+Law+Blog)
http://www.biofuelsdigest.com/bdigest/2010/04/15/bp-to-invest-8-billion-in-alternative-energy-through-2015/
http://www.heraldnet.com/article/20100728/NEWS02/707289822
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