The future upside potential for Bp from deep ocean oil discovery is likely going to be severly limited. The market places some value on the future discovery potential of this sort of stock. $30 is not that silly now.
Not silly. This accident/spill is a serious problem and is ongoing. They have an out of control problem on their hands and no one can quantify the size or cost. It is not a "one off" sort of problem like a tanker spill, its ongoing. Lots of downside risk if Bp (and others) get shut out of areas of the ocean that are prospective for oil. It could mean potential oil fields under parts of the ocean will be off limits for a long time.Future potential to discover whole oil field may be lost.