Monday, May 24, 2010

BP Rumors

Something is going on with British Petroleum and the Horizon rig site. Rumors abound of some major problems over the weekend including underwater ruptures. I have no idea but the stock market seems to validate some of this. BP is down over 2.5% which is a new 52 week low. In a month the stock has gone from 61 to 42. RIG is also hitting a 52 week low and has dropped from 92 to 57 in a month.

Based on rumors I am hearing it seems the gulf disaster may have taken a turn for the worst though so far there is very little actual fact that is being reported and the major media sources seem to be quite on the issue.

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