In some ways you almost have to pity BP (BP). Though it was the owner of the Deepwater Horizon drilling platform that ultimately caused the worst maritime oil spill ever, truth be told, it could have been any explorer that was in the wrong place at the wrong time on the wrong end of an accident.
Still, BP was the company in that place at that time, so it gets stuck with the fallout. To this day, though it’s been four years since the rig spilled 200 million gallons of oil into the Gulf of Mexico, the public remains less than pleased.
The public isn’t displeased enough to punish BP stock, however. Though shares plunged from $60 to a low near $27 as a result of the oil spill, BP stock has since fought its way back to about $50 per share. That’s a near-doubling of value for BP stock in less than four years following the environmental catastrophe.