Oil Spill in Gulf of Mexico

Have all of you heard about the BP rig explosion in the gulf of mexico? Apparently BP have tried so many countless efforts to control the oil spill disaster even to the extent of collecting people’s hair to pull the oil spill together! and also trying to stop the oil under water from gushing out by releasing a big boulder to block the rig holes.

This is not the first time BP has had a major disaster, the last major one was in 2005, Texas City where a refinery blew off and killed 15 people and injuring more than 100+ people! That one was caused by an overflow of gas in the distillation chamber. And for that BP had spent more than 3Bil USD to fix things up.

For all that I know, looking at the facts, in 2005 BP shares went down close to 16%, thats even lower than our BSP here. After this incident I’m sure their shares will come down even further. And definitely the Us G’ment will sue them much more for the ecological disaster caused.