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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (73724)	10/29/2010 11:36:47 AM
From: Maurice Winn	1 Recommendation of 74559

Mq, you were right - one of the main causes of the BP well failure was the concrete made by Halliburton. Shares of Halliburton take another dive now that the investigation has fingered the concrete: finance.yahoo.com <By Chris Baltimore HOUSTON (Reuters) - Halliburton Co. used flawed cement in BP Plc's doomed Gulf of Mexico well, which could have contributed to the blowout that sparked the worst offshore oil spill in U.S. history, a White House panel said on Thursday. Halliburton's shares tumbled as much as 16 percent after the National Oil Spill Commission released a letter detailing the panel's findings, before recovering to close down nearly 8 percent at $31.68 per share on the New York Stock Exchange. BP's U.S.-listed shares closed up 1.3 percent at $40.60 per share. While not absolving BP of responsibility, the report heaped criticism on Halliburton's cement job, raising investor concerns it could be forced to bear some of the clean-up costs. > Mqurice

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