The worlds worst environmental disaster is still one of the top news stories. Most people have reacted to BP’s massive oil spill by selling. But could BP actually be a good investment?
As I watched the environmental damage start to register on the southern coasts of America, I couldn’t help thinking about how much money BP and the other companies involved are going to have to pay to clean up the mess. All of those oyster harvesters are going to be put out of business. They will sue BP and win. And then cities are going to sue for cleanup costs and financial losses due to the spill. Besides that, there will be a penalty imposed by the government for the environmental damage.
How could BP be a good investment considering this terrible situation?
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Creative Commons Photo by Stefan: Daikokuten is one of the Seven Gods of Fortune. He is the god of wealth, commerce and trade (hence the bales of rice under his feet).
Most of the environmental movement is built on the theory, that the richer we get, the dirtier the world gets. At first glance, it seems to be logical. The more money we make, the more things we consume, and the more energy we use.
In fact, ecologist Paul Ehrlich and the physicist John P. Holdren (President Obama’s science adviser) came up with a whole new equation to sum up this “money is the root of all environmental evil” theory. It basically says, environmental impact=Population X Affluence X Technology (I=PAT).
But John Tierney, who wrote a piece for the New York Times, says this is based on flawed logic. He adds that common sense and a steady stream of data from the 1970s (when the I=PAT theory was first formed) reveal this flaw.
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is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
