Monday, May 31, 2010

Denali Project: Can BP Stay In?

Oil spill puts future of BP in doubt - Calgary Herald

While this story makes no reference to Denali (or any other northern project, for that matter), it's worthy of discussion because of the potential fallout.

BP is in some serious trouble. As this story points out, they've lost 30% of their market cap since the spill started, and the situation seems to deteriorate by the day. I find it hard to believe that this can actually improve chances of them investing upwards of $20 billion to build their share of the Denali Pipeline.

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