The billion dollar question is: What’s the future of BP?
Bankrupt? Back to its former self?
Try this: owned in large part by foreign governments and sovereign wealth funds, with just a tiny footprint in the US.
We know that BP has been scouring the world looking for cash, and now Bloomberg reports that Abu Dhabi is considering a stake in the company.
Of course, if BP does sell a big stake to foreign entities like Abu Dhabi, it’s going to make its ligh tougher in the US than it’s already going to be.
Hence it’s also reportedly in the process of dumping billions in assets in to domestic buyers, like Apache.
Given that BP’s brand is badly damaged in the US, and since regulators are going to make its life miserable here, and since there’s no growth in the US anyway, it wouldn’t be that weird to see the company just pack up and leave.
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