Investors pummeled shares of oil drillers and BP on Tuesday, after President Obama talked tough about dealing with the worst oil spill in the nation’s history.
Analysts added fuel to the sell-off by cutting their earnings outlooks on companies that figure to be hurt by the six-month moratorium on deepwater drilling in the Gulf or the temporary delay in issuing permits for drilling in shallow water.
Don’t you find it interesting that investors are ‘fleeing‘, but within 3-6 months they will be “returning’ because they can’t resist those huge profits.
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