BP Oil Spill

With the BP problem in the gulf, the long-term ramifications of the environmental impact cannot be predicted. Cleanup costs are currently being estimated at 10 billion with BP being responsible for 65% of the cost. I believe that it is very likely that the costs will be double the estimate based on the proximity to the light sand beaches that are going to bear the brunt of the oil spill. There are several "talking heads" out there that believe BP is currently undervalued and that is probably true. Although value is usually in the eye of the beholder, in this case carefull investors.