What spill? In some respects BP is stronger than ever

Almost a year ago, investors became so nervous in the weeks following the Macondo blowout in the Gulf of Mexico that they briefly wouldn’t lend to BP. They feared the British oil giant could be crushed under the weight of tens of billions of dollars in fines, cleanup costs, and payments to families of the 11 rig workers killed and businesses affected by the worst oil spill in U.S. history. They turned out to be wrong. Not only is BP still in business, it has more cash today than before the spill. Earlier this year the company negotiated massive energy deals in India and Russia. And, despite opposition from some in Congress, it has even resumed exploration in the deep waters of the Gulf.

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