BP May Sell Key Assets To Pay For Spill Cleanup

Jillian Bandes | June 03, 2010 9:51 AM

This can't be good for our economy, U.S. energy production, or our national security. From Bloomberg:

The 26 percent stake in Prudhoe Bay on Alaska’s North Slope and other BP assets could attract suitors such as China National Petroleum Corp., Occidental Petroleum Corp. and Hess Corp., said Douglas Ober, chief executive officer at Petroleum & Resources Corp. in Baltimore, the oldest U.S. oil fund.

I can't think of a worse way to deal with this problem than to sic BP with loads of legal bills. On that note, is there any better evidence than this to prove that BP is fully committed to stopping this thing? Selling off key assets means they are fully aware of how costly this disaster will get the longer it is left unchecked.