BP Posts $1.4 Billion Loss
Markets and shareholders shaken
On Tuesday, British Petroleum reported an unexpected $1.4 billion loss for the second quarter and a $4.8 billion loss on the value of its assets. The oil company's stock price is still down about 30 percent from what it was at the time of the Deepwater Horizon spill in the Gulf of Mexico in 2010. A court case to determine how much BP will pay in damages from the spill has been postponed until 2013, but low natural gas prices in the U.S. and an Alaska project halted due to environmental concerns decreased earnings. Exxon Mobil and Royal Dutch Shell, the world's two biggest oil companies, also reported lower earnings due to lower oil and gas prices.
Via New York Times
Our mission to inspire readers to get outside has never been more critical. In recent years, Outside Online has reported on groundbreaking research linking time in nature to improved mental and physical health, and we’ve kept you informed about the unprecedented threats to America’s public lands. Our rigorous coverage helps spark important debates about wellness and travel and adventure, and it provides readers an accessible gateway to new outdoor passions. Time outside is essential—and we can help you make the most of it. Making a financial contribution to Outside Online only takes a few minutes and will ensure we can continue supplying the trailblazing, informative journalism that readers like you depend on. We hope you’ll support us. Thank you.
Contribute to Outside →