There are 42 gas stations in the Atlanta area for sale on Loopnet.com. Some of the gas stations are properties that BP closed temporarily, but have yet to reopen. For example, the former BP station on Chapel Hill Rd in Douglasville was temporarily closed after the accident in the Gulf, but was recently demolished for a new tenant that will replace the gas station use of the property.
The accident in the Gulf can definitely be blamed for BP's massive stock vaue downturn after April 20, 2010 when the explosion occurred on the Deepwater Horizon offshore facility. As you can see on their 2-year chart, their stock value went from $60 per share on April 20, 2010 to $27 when it hit the bottom two months later on June 25, 2010. BP shareholds lost half their share value during that time period, but inverse investors made a killing on shorts and puts.
BP has shown an impressive recovery since the June 2010 bottom. It reached a high of $49 per share in January of 2011, but seems to have leveled out at $43 as of today. BP's efforts to overcome the negative press and environmental impact seem to have recovered half of the value loss. The new BP shareholders that have bought in since April 2010 are in an excellent position to capitalize on the BP growth relative to typical market factors.
BP's pains have helped their competitors. ExxonMobil lost share value also between April July of 2010, but their value decrease was only 15%. ExxonMobil's recovery since their July 2010 bottom has been more than 25%, vastly exceeding the recovery of BP. Chevron went from a bottom of $67 in July 2010 to a stabilized high of $110 in 2011, delivering a 61% gain for its shareholders in a year. The strength of US oil companies is critical for the stability of US states and cities such as Georgia and Atlanta.
Is BP Forgiven? http://trilateralcapital.blogspot.com/2011/10/is-bp-forgiven-yet.html
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