Tuesday, June 1, 2010

Does BP (NYSE:BP) Have a Future?

After the failed attempt to stop the flow of oil over the weekend, the latest response by analysts watching BP (NYSE:BP), is whether or not they'll be able to survive the crisis.

If this next attempt to cap the leak also fails, it's settling in that BP may have to wait until August before they have a permanent fix in place, which will no doubt punish the company in every way, as it'll play out before the public on a daily basis.

They may be helped by changes in the news cycle, but even with that it's unlikely they'll ever be out of the eye of the media constantly reminding everyone of what's happening as up to 19,000 barrels of oil a day pour into the Gulf of Mexico.

So far approximately $67 billion in market value has been lost since the accident.

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