BP’s Demise Would Threaten U.S. Energy Security, Industry, Jobs

Oil spill aside, U.S. energy security will suffer if BP Plc goes under or is significantly reduced in size.

With public anger off the charts over BP’s role in the Gulf of Mexico oil disaster, there’s not much sympathy about the financial burden the London-based company faces from future legal claims and cleanup costs. BP says it’s considering asset sales to help cover the cost of a $20 billion escrow fund President Barack Obama demanded the oil producer set up to handle U.S. claims.