Monday, May 10, 2010

Cameron International (NYSE:CAM), BP (NYSE:BP), Halliburton (NYSE:HAL), Transocean (NYSE:RIG) Blaming One Another for Accident

Cameron International (NYSE:CAM), BP (NYSE:BP), Halliburton (NYSE:HAL) and Transocean (NYSE:RIG) are all pushing the blame toward one another as the potential fallout from the explosion, loss of life, and oil spill on the Deepwater Horizon oil rig are staggering, and the oil companies are attempting to defensively position themselves as hearings begin.

Cutting through all the talk and hype, at this time the bottom line seems to be that there is no evidence yet as to what caused the explosion and accident, and it'll take time to examine everything and come to a conclusion.

What oil companies are doing now is attempting to cut into the narrative which has taken on a life of its own, and could be devastating for some of those where conclusions are already being made before any evidence is examined and determinations made.

In other words, this is public relations rather than proof, and understandable as to why these companies are trying to stop the story before it is considered as true, even before there is any real evidence to the contrary.

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