Stock Value Makes The Politics Of BP's Gusher Local - Far From The Gulf
Recent BP stock performance. Image credit: Yahoo finance.
This post is a one sentence reality check for readers focused on environmental ethics and oil poisoned marine life in the Gulf of Mexico. From Cleveland.com: "Ohio's five public retirement systems and the state's injured worker fund have lost $177 million in value on BP stock."
With this backdrop, don't expect an Obama Administration moratorium on offshore drilling to last for long.
Related musings: how many other state pension funds are in a similar position; and, how much do those pension funds have invested in renewables?