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Investor's Business Daily, by Ed Carson Posted By: slyscribe- Wed, 09 Jun 2010 20:36:19 GMT BP (BP), the one'time British Petroleum that tried to rebrand itself as “Beyond Petroleum,” is crashing today on talk that energy giant may have to seek bankruptcy protection. BP has plunged 15% — more than 50% below pre'spill levels. In an article today, Fortune quoted Matt Simmons, oil and gas industry insider: They have about a month before they declare Chapter 11. They’re going to run out of cash from lawsuits, cleanup and other expenses.

Tags: Breaking News, Current Events, Lucianne

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