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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Jacob Snyder who wrote (140135)	11/3/2010 7:40:37 PM
From: Jacob Snyder	Read Replies (1) of 206334

BP news: Third-quarter net income fell to $1.79 billion, from $5.34 billion in the July-September period a year ago. The London-based oil major achieved the profit despite another massive charge — $7.7 billion - for spill-related costs... ... BP, which took a $32.2 billion charge in the second quarter for the Gulf disaster, said it brought the bill to nearly $40 billion in the third quarter after spill costs came in higher than expected. chron.com Negotiating oil spill fines will be the real test for BP's Bob Dudley telegraph.co.uk election results: solar loses, BP wins. Joe Barton might be the new chairman of the House Energy and Commerce committee: Barton was the congressman who embarrassed even some Republicans by apologizing to BP for the grilling it got on Capitol Hill in the wake of its oil spill in the Gulf of Mexico. He promised that if he becomes the chairman of the energy committee, he would “aggressively oversee the Environmental Protection Agency,’’ to the point of reviewing the EPA’s finding that greenhouse gas emissions are a danger to public health. boston.com my comment: sold some BP today at $42+. Recent news hasn't moved the stock much out of a $40-42 range. The stock's volume and volatility are declining to normal levels. The dividend will return next year. I will probably do one or two more sells, in the mid-high $40s, leaving me with a LT holding at $32 cost basis. May add more on dips to the $36-38 area.

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