Monday, May 3, 2010

GULF OIL SPILL

I've been keeping an eye on the news related to the oil spill in the Gulf of Mexico. After reading more in yesterday's paper, I decided it might be a good idea to sell my shares in BP and BPT. Although I'm not sure the trust would face any litigation related to the spill, I figure what's bad for British Petroleum would be bad for them as well.

At any rate, I've placed orders to sell all shares and am using the cash to purchase more shares of AZN, AT&T and UVE. So all the money I get back from my investment in British Petroleum will be re-deployed and put back to work so I shouldn't lose much dividend income.

Just hope the politics of this oil spill don't lead to such severe restrictions that consumers end up paying for the whole mess.

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