BP’s bond investors are getting a little spooked.
BP Bonds - Click to Enlarge
Lessons to be learned here, forsure.
Make no mistake, each joule we burn, is cheaper than the next.
So this in the context of EROEI, is this the form a write-down takes? Penalty to share holders. Penalty to bond holders. Penalty to the environment. Drives up the cost of capital, taxes, fines, and overhead…leading to, climbing energy prices.
No position. Unless you count being employed in the energy industry.