Wednesday, October 27, 2010

BP (NYSE:BP), Shell (NYSE:RDS-A) Rivalry Heating Up

While all major oil companies have taken shots at BP (NYSE:BP) while they're down, it seems Royal Dutch Shell (NYSE:RDS-A) has been the most vocal and public about slamming the company, creating no love lost between the two European energy giants.

That very reality may be why the two seem to be slugging it out with each other on a consistent basis. Shell is valued at close to $65 billion more than BP since the oil spill slashed the value of the oil giant. BP have been worth more than Shell before the Gulf oil spill, although they were very close in value, as a proposed merger had revealed.

Maybe because of the consequences Shell experienced as an innocent bystander is the impetus behind the growing feud, as they suffered when the Obama administration imposed the misguided oil moratorium in deepwater drilling off the coasts of America, which interfered with their Alaskan project.

Shell has recently went so far as to say BP has misled the public and consumers by positioning themselves in a different light than justified by the realities surrounding the company.

Welcome to the new oil wars.

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