Both those companies are probably going to have to make some moves. One of them is going to be an acquirer and one's going to be acquired.
More Quotes from Bruce Lanni:
When you start polling the world for where major oil companies can do business, you have West Africa, Russia, the Middle East and Latin America. What they all share is that they're becoming more and more difficult operating environments.Bruce Lanni
BP is a very upstanding company and they make every effort to insure safety. It's a very dangerous operation. You're dealing with a lot of volatile materials.
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There's concern that Iraq knows it's in a position that if it pulls its production off the market it would have significant implications on moving oil prices sharply higher.
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It's a fabulously run company.
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In a perfect world, you'd take the premium out, and you're looking at an oil price in the lower- to mid-30s. But it is not a perfect world.
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