Oil giant generates tens of billions in cash, sitting on vast oil reserves
Even if the cost of the nation's worst oil spill rises to $70 billion, the high end of current estimates, BP's pockets probably are deep enough to withstand it. But much depends on what costs are included in the final tally, and who else might end up sharing the liability.
BP says it already has spent $1.6 billion on the spill response and related claims. Estimates for the company's future costs and liabilities are are all over the map.
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BP will pay next to nothing in the end. The consumers will eat the whole bill.
ReplyDeleteIf BP puts money in a fund for the families in the Gulf States, they better make certain Obama doesn't use it to "rob Peter to pay Paul". Sure hope those folks get the money. It will be held up by "red tape" for months if we get our hands on it just like everything else.
ReplyDeleteIt will be years if not decades.
ReplyDelete