With the federal government - both on Capitol Hill and in the White House - beginning to take investigative and punitive action against BP (NYSE:BP), the future of the company, at least in the United States, is in peril.
On CNBC's June 14 "The Kudlow Report," John Kilduff, a CNBC contributor and the vice president of MF Global was asked by host Larry Kudlow about a potential debarment from eligibility to be awarded government contracts, which have been very lucrative for the embattled oil giant.
"John, this would effectively be debarment," Kudlow said. "This is something we talked about a week ago, and the prevailing attitude was there would not be debarment because that hardly ever happens in American commercial history. Is President Obama having this as a Sword of Damocles over BP?"
