Monday, July 26, 2010

BP New Whipping Boy

BP (BP) is changing the CEO optics. Tony Hayward with his Anglo Saxon weekend yacht racing propensity may become the sacrificial lamb. Congress did not like him. He did not like congress.

A native from Mississippi is coming out of the bullpen. The PR types think he will be able to stick handle the crisis better. Maybe who really knows for sure. Robert Dudley is on deck.

How about this for strategic planning? The US government starts to meddle so much in BP operations that BP spins off the US entity and dividends it out to unsuspecting shareholders. The US government still has the whipping boy it wants. Shareholders divest from a problematic asset.

The US is still dependent on foreign oil.

Disclosure: No position in any stocks mentioned in this post.