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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Snowshoe who wrote (54625)10/21/2004 1:02:18 PM
From: Tommaso  Read Replies (1) of 74559
 
>>>Would this have been because BP needed the capital? <<<

I think that's the reason. It's something about their realizing the value of the oil all at once instead of over the life of the field, by selling tax-advatanged shares in the production. You wonder if, with oil at $55 a barrel, they may deeply regret not owning the oil.
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