BP Bailout Petroleum

Gulf Oil Spill-Gutsy Solution Restores Environment in Just Six Weeks

VIDEO (7:54):

Oil from Gulf of Mexico spill 'nears Florida beaches'

Thursday, 3 June 2010

A sheen of oil from the Gulf of Mexico spill is nearing the white sand beaches of north-west Florida, officials say.

The slick, containing thousands of tar balls, is only nine miles (15km) from Pensacola on the Florida "panhandle".

"It's inevitable that we will see it on the beaches," said Keith Wilkins, an Escambia County official.

Meanwhile, BP's efforts to cap the leaking well got back on track as a saw that had become stuck in a thick pipe on the sea bed for hours was freed.

The company is attempting to contain the spill from the well by cutting off the fractured pipe and sealing it with a cap.

Coast Guard Admiral Thad Allen said crews were shooting chemical dispersants at the oil now leaking out of the new cut.

Continues: http://news.bbc.co.uk/2/hi/world/us_...a/10217739.stm

Goldman Sells 43% of BP Share Position Before the Spill
MSN Money (2 June 10) * *

Charts: http://moneycentral.msn.com/ownership?

A Series Of Lucky Coincidences Involving Goldman Sachs And BP plc

Submitted by Tyler Durden on 06/01/2010

Earlier, when observing the US AG disclosure of a civil and criminal investigation into BP plc, we noted in passing that BP's former Chairman, Peter Sutherland, who left the firm is a Chairman of Goldman Sachs International. Mr. Sutherland holds some other interesting titles, including a position on the Trilateral Commission, he was a chairman of the London School of Economics in 2008, he is a UN special representative for migration and development; he was the founding director-general of the World Trade Organisation, he had previously served as director general of GATT since July 1993 and was instrumental in concluding the Uruguay GATT Round Negotiations. Needless to say, we focused on the Goldman relationship. When digging deeper, we uncovered some amusing correlations, most notably between the BP plc sellside ratings by Goldman BP analyst Michelle della Vigna and the Goldman Sachs Asset Management holdings of BP plc. These are summarized on the attached chart.

Continues with chart: http://www.zerohedge.com/article/ser...n-sachs-bp-plc