Thursday, February 11, 2010

Drilling for biblical oil?

I cannot stop laughing. And yes, the moment he mentioned this company, I did pull up my brokerage account with the intention of shorting it.
This company, with a market cap of $100 million (small fry as stocks go, but still not trivial as a business valuation), drills based on biblical texts and "creation science". As in, it reads the Bible, figures out where oil should be based on the Bible, and undertakes multimillion dollar drilling expeditions based on this. People have actually funded this.
There's a pretty funny video on the blog site. Turns out they've actually rung the AMEX opening bell when they IPOed.

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