Archive - Jun 1, 2010 - Blog entry

The BBC’s business editor Robert Peston said: “Given that BP is a core holding of most British pension funds, that’s tens of billions of pounds off the wealth of millions of British people saving for a pension.

Going through the company’s contract with British Petroleum (BP) with a fine tooth comb. RIG is indemnified for any accidents, including spills. A net asset value of $106/ share, which makes its current price of $51 a once in a life time steal. It has a $28 billion order backlog to tap offshore fields in places like the offshore Tupi field in Brazil, outside the reach of federal regulators, which will generate $10 billion of free cash flow over the next three years.

News tidbits from the MSM tainted with actual facts, figures and smart ass opinions from yours truly.