BP's Response to Oil Spill Sets a Standard

BP’s aggressive response to the recent oil rig explosion in the Gulf of Mexico is bringing the company plaudits. The firm, which employed 30 ships and five aircraft to help limit the effects of the mishap, is taking measured steps to seal the oil leak. BP seems to have learned a lot from what was regarded as its much more sluggish response to an Alaska Pipeline spill in 2006. An accident of this type is an exceedingly rare event, but the reality is that the energy business can be a dangerous one. However, just as the recent coal mine disaster in West Virginia won’t put an end to coal mining, the mishap in the Gulf, despite any immediate effects, is unlikely to affect off-shore drilling policies, says Pavel Molchanov, Raymond James’ energy industry analyst, in this edition of Professionally Speaking, hosted by Larry Pugliese.

You can access this audio presentation by visiting the Raymond James website at raymondjames.com/experts/molchanov.htm. To listen, you may have to download and install QuickTime, Windows Media Player or Real Player. The software is free, and the download should take only a few minutes.