Mite sorry to hear that. Hope the Federal boys dont come snoopin round the Busy Tails Gentleman's Club in Texas. My takings were down, 'cause some of my Bayou Customers were to busy filling claims to visit mah Girls. Lawyer friend said stick a claim in 'n try your luck..
The recent crash in oil prices has made BP’s road to recovery from a massive setback it faced as a result of the 2010 Deepwater Horizon incident even more challenging. Just when the company’s underlying business seemed to be on the cusp of a turnaround with new upstream projects adding to both production and profitability, it now faces a potentially prolonged cycle of depressed commodity prices, coupled with huge uncertainties related to additional liabilities from the oil spill incident. In this article, we look at the key strategic steps BP is taking to ride through the commodity down cycle.
A North Carolina man has been charged with filing $2.3 million in false compensation claims following the 2010 Deepwater Horizon oil spill.
Michael R. Rosella of Wilmington was arrested by federal authorities Monday and charged with one count of mail fraud, three counts of wire fraud and two counts of money laundering.
Prosecutors say the 45-year-old Rosella lived in Washington, D.C., in 2010 when he filed a reimbursement claim on behalf of a fake Louisiana business called Bayou Barataria Sportsmen's Resort. Rosella claimed the fictitious hotel and sport fishing business was devastated by the impact of the oil spill on the Gulf of Mexico.
He faces up to 90 years in prison if convicted of all charges.
Damn, another nice pick on SL. I need to learn from you.. would love to get email contact in some way so I can use your expertese and teach me..:-) I only read your post on SL. now.. and its too late, they already up almost 4%
You’d never know oil’s price is tanking by eyeballing supplies.
Oil inventories appear to be defying conventional wisdom, hovering near 80-year highs even as prices have tumbled by more than half since crude oil’s peak last June.
A report from trade group the American Petroleum Institute late Wednesday showed a jump of 14.3 million barrels in crude supplies for the week ended Feb. 13 — prompting some following the oil market to call it “ridiculous,” “shocking,” or “gargantuan.” Indeed, U.S. stockpiles of crude continue to grow and the EIA referred to the 425.6 million-barrel total as “the highest level for this time of year in at least the last 80 years.”
It is worth noting that API and EIA reports calculate inventories differently.
“Bottom line is the API data [are] voluntary,” notes John Macaluso, research analyst at Tyche Capital Advisors. But for companies which carry or store 1,000 barrels or more of crude oil, the EIA’s survey is mandatory.
And “it always seems that API tries to catch up with EIA data, which is a much more detailed report,” said Macaluso. Last week, the API said crude stockpiles rose 1.6 million barrels for the week ended Feb. 6, while the EIA said they were up 4.9 million.
But no matter how you measure it, oil’s supply glut doesn’t look like it is set to abate soon.
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