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Author: saunafool Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1155  
Subject: Re: The BP-Transocean Contract Date: 8/12/2010 4:31 PM
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My personal bearishness has been mitigated now that the well is plugged. At least that portion of the disaster is now quantifiable.

The part I'm still not sure of is the long term impact on the drilling industry. Only a small change in the drilling environment could result in excess marginal supply and falling dayrates.

However, I suspect this, like so many other disasters, will be forgotten and the public will go back to driving their SUV's with no connection in their minds between demand for motor fuels and deepwater drilling.

At a bare minimum, RIG and other deepwater drillers will likely face a new slew of regulations and scrutiny. I doubt the costs will amount to a hill of beans for an industry where dayrates can be $500,000.
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