I think Exxon is the safer bet. There stock has dropped do to being an oil company, but they don't have an liability in the deepwater fiasco. While they could deservedly be called the most ruthless greedy bastard oil company, they are the best at making money in the oil industry.
When to buy bp stock has been a big topic at work lately. I'm risk adverse, so figure Exxon is the better bet.
Most people figure this won't bankrupt them, but it certainly hurts them.
Various scenarios are, there price drops so low that somebady takes them over, but the question that company has to ask is how do they insulate themselves from the liability. The other scenario is BP sells off some or all US assetts to cover the costs of the cleanup, they may also loose their license to opperate in the US, which would also drive them to sell off assetts. And, if they no longer opperate in the US, what leverage do to courts and government have to make them pay for damages?
