BP Says Gulf Oil Disaster Costs $8 Billion So Far
September 3, 2010
(ChattahBox Business News) BP has tallied up all of its expenses for causing the worst oil spill in U.S. history and has arrived at a figure of $8 billion. Should we all apologize to the nice oil company now in the spirit of Rep. Joe Barton (R-TX)?
According to BBC’s report, costs associated with the disaster have risen sharply in recent weeks:
BP says the cost of its Gulf of Mexico oil spill has risen to $8bn (£5.2bn) – a rise of more than $2bn in the last month alone.
The company said it had paid out about $399m in claims to those affected by the spill.
Last week, responsibility for the claims was transferred to the Gulf Coast Claims Facility (GCCF), which has so far paid out a total of $38.5m.
BP is on track to complete the relief well in mid-September, which would permanently seal off the underwater blown out well that leaked millions of gallons of oil into the Gulf of Mexico, causing an environmental and economic disaster along the Gulf Coast states.