To the best of my ability I write about my experience of the Universe Past, Present and Future
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Wednesday, October 28, 2015
Oil
I was just thinking why BP is having financial problems and thought about the big oil spill under the ocean in the Gulf of Mexico a few years ago. All the fines and cleanup and penalties they suffered likely dropped their bottom line now into the red. However, most oil companies likely learned to save for a rainy day, especially after Saudi Arabia dropped the prices the last time in 1989 or therabout which ended the Soviet Union through oil prices then. Even now, Russia only has 1 year left of it's emergency funds of built up oil revenues before they are in trouble too. So, other oil companies likely have emergency funds saved up so they might last longer than BP.
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