As a successful investor in the energy and technology sectors for over 35 years, today's guest blog poster, David Fessler of Investment U, knows a bit about the one of our favorite markets - crude oil. We've all heard about the recent oil rig explosion and subsequent oil slick plaguing the Gulf of Mexico, but we invite you to read below as David points out of some facts you may not know, as well as the oil companies you may want to add you your portfolio in the near future.
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Can you hear that scurrying sound?
It's the sound of expensive shoes scampering across the floor of BP's (NYSE: BP) legal department, as hoards of lawyers try to minimize the financial damage to the firm from the Gulf of Mexico oil spill.
Lawsuits against BP and the other companies responsible are arriving by the dozen. And environmentalists are predicting carnage for marine life in the Gulf.
Many onlookers, blitzed with TV images of wildlife choking and dying in thick sludge and Southerners fearful of losing their livelihoods, would probably subscribe to the "take 'big oil' to the cleaners" viewpoint.
And as shares of the companies involved get hammered on the market, few have much sympathy for them.
Let's take a look at the facts as we know them... the ramifications for the parties concerned... and draw some less emotional conclusions about where we go from here with regard to the future of offshore oil drilling... Continue reading "The Future of U.S. Offshore Oil Drilling"
