Searching for Save the Gulf Stocks (NYSE:BP)
The eyes of the world are all peering into the Gulf of Mexico waiting on a conclusion to what is shaping up to be one of the worst environmental and economic hurdles since 1979 when the Ixtoc platform exploded just off the coast of the Yucatan spilling 140 million gallons of oil. Many journalists and analysts alike are pointing the finger at BP for cutting corners and lacking overall responsibility in the matter.
Reports continue to surface on a daily basis attempting to forecast both the monetary and the environmental consequences of the BP oil spill. Any aquatic creature that comes into close contact with the oil will no doubt meet an end; the food chain will also ensure many species die from eating oil covered prey. Plant life everywhere will absorb the oil into its systems which will inturn, circulate and eventually destroy a large amount of ecosystem both under the sea and lining the coasts.
The fishing industry alone will take the brunt of the damages, with the spill not only facilitating the loss of jobs, but also the temporary loss of an industry. Fisherman will have to become part of the clean up initiative in order to pay bills for the time being, but this is not a final solution for these men and their families.
With a slew of lawsuits on the way, British Petroleum has opened a whopping can of worms, a can that will probably not close for years to come. The combined cost of cleaning up the oil spill, the actual lost oil and years of litigation may completely ruin BP, eventually bringing its stock crashing to zero.
It is important to not blame BP at the expense of finding a solution. Yes, it is their fault, yes they should pay, but the priority should now be to find a way to reduce the damage. There are many companies involved with cleaning up the oil spill, and in a short while, the World Market Media Research team will be evaluating companies involved in the cleanup, noting their products or services and unique features.
Investors will be looking for solid outlets for cash in these strange times for the world economy. Oil cleanup stocks will likely receive governmental and personal aid in an effort to accelerate the cleanup. These equities represent lucrative investment opportunities, and a chance to play a small part in the effort to fix BP’s mistake.
Stay tuned for further content on the spill and WMM’s oil spill picks.
Disclosure: no positions
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The BP Oil Spill: Devastation to the Gulf Coast Fishing Industry