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How much will the spill cost BP? Not as much as it'll cost us..

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posted on May, 2 2010 @ 11:04 AM
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BP will have to pay for the cost of containing and cleaning up the spill but we'll have to pay for anything over $75 million in liability.

www.nytimes.com...

Under the law that established the reserve, called the Oil Spill Liability Trust Fund, the operators of the offshore rig face no more than $75 million in liability for the damages that might be claimed by individuals, companies or the government, although they are responsible for the cost of containing and cleaning up the spill.


Consider the cost of containment and clean up compared to the liability associated with the spill while considering the scope of this disaster (see The Scale of the Deepwater Disaster ). While it currently is projected for the Gulf Coast, it could spread with the jet stream up the East Coast. Liability for:

Fisheries
Wildlife Habitats
Business Owners: Fishermen, Hotels, Restaurants, etc.
Governments that see tax revenues decline

These are only a very few, my point is in effect, the entire coastal economy...


Up to $1 billion of the $1.6 billion reserve could be used to compensate for losses from the accident, as much as half of it for what is sometimes a major category of costs: damage to natural resources like fisheries and other wildlife habitats.

“One billion dollars sounds like a lot of money, but it really might not be,” said Mr. LeVine, who is based in Juneau, Alaska.


With as much as half of this reserve going towards fisheries and other wildlife habitats, how long do you think it'll be before we'll see a tax increase on oil / gasoline to pay for this?




posted on May, 2 2010 @ 11:34 AM
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I think this could well become one the biggest ecological disasters caused by humans in the 21st century if it spills to the Gulf Stream.

Link to Gulf Stream image below.





[edit on 2-5-2010 by Grey Magic]



posted on May, 2 2010 @ 11:38 AM
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and the craziest thing about all this is we don't even need freaking oil. We could be using so many other things besides it. Millions of animals are going to die over this (i am guessing) over something we don't even need to be doing. How sad.



posted on May, 2 2010 @ 12:09 PM
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This disaster will not cost BP one red cent!
The cost will be passed along to the consumer with higher fuel prices.



posted on May, 2 2010 @ 12:14 PM
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reply to post by xizd1
 


Good point. That on top of the oil / gas tax increase that will occur because of this.



posted on May, 2 2010 @ 12:20 PM
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I definitely agree.

That much money isn't really going to affect BP...much.

Those in America are going to pay for it - to be honest, we the public always pay for things like this.

It's going to harm the environment around us and there's definitely much more to come, I bet - we haven't seen the end of the destructive acts of the human race.

It's never going to get old, is it?



posted on May, 2 2010 @ 01:13 PM
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Originally posted by BlackPoison94
I definitely agree.


Those in America are going to pay for it - to be honest, we the public always pay for things like this.


I was wondering. How much do you pay for a liter / gallon ?

I live in the Netherlands and yesterday I payed 1,51- euro a liter.
Edit.
At a BP gas station. How ironic.
Gas prizes are already high because of governments taxes extra on fuel ( and tabaco )

[edit on 5/2/2010 by Sinter Klaas]



posted on May, 2 2010 @ 01:22 PM
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reply to post by Iamonlyhuman
 


Maybe the leak will fizzle out. If the administration says the leak is big then assume it is not so big. If they said it was small, then bet on it being big.

For instance, the recent past flu scare duded out. They said there were WMD in Iraq, they found none.

"They" say something I am inclined to believe the opposite. Also, look at "global warming", the earth could actually be cooling.



posted on May, 2 2010 @ 01:24 PM
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reply to post by Grey Magic
 


I also suggested this thread.

Not good at all. On it's own its bad bad if it mixes with the gulf stream ?

What could happen.

Can the oil have any effect on the amount of heat the gulf - stream brings to Europe ?
Can it effect the drop of water in the artic and cause direct effects on the conveyor belt system ? ( System responsible for the transportation of heat on the planet because of the radiating of heat into the atmosphere. Making the European continent a livable place. )

Along with destructing the eco- system.



posted on May, 2 2010 @ 01:55 PM
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Originally posted by Sinter Klaas
I was wondering. How much do you pay for a liter / gallon ?

I live in the Netherlands and yesterday I payed 1,51- euro a liter.
Edit.
At a BP gas station. How ironic.
Gas prizes are already high because of governments taxes extra on fuel ( and tabaco )


Haha. I can't drive...yet but the diesel price down here is 132.9 (UK).
No idea which station, can't remember but apparently the BP Price down here is 123p a litre (found it on the Internet).

Doubt that. You said rightly, they're already ripping us off.
I don't think it's ever going to stop.



posted on May, 2 2010 @ 02:00 PM
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75 million? doesn't bp make that in a day hahaha

seriously though, it would probably take a number of days for bp to compensate any money loss it takes

meanwhile whatever amount the tax payer is footed will be strung out into probably a couple more years onto our already seemingy endless debt recovery time



posted on May, 2 2010 @ 02:03 PM
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reply to post by BlackPoison94
 


Yes probably.

I asked because a few years ago the news here reported Americans protesting agianst the high fuel prices what were a joke regarding our liter prices.
Later I found out their price was per gallon. what's if I'm correct almost 4 liter.

God what do I find the system repulsive.


Thank you



posted on May, 2 2010 @ 02:16 PM
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reply to post by Sinter Klaas
 


Right now, the national average is about $3 per gallon in the US. Of course, we pay much lower fuel taxes over here.



posted on May, 2 2010 @ 02:22 PM
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reply to post by Sinter Klaas
 


I don't know mate, I am not a scientist, but I can only imagine the destruction and death this will cause.


And that is something no amount of money can turn right.


[edit on 2-5-2010 by Grey Magic]



posted on May, 2 2010 @ 02:52 PM
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Originally posted by xizd1
This disaster will not cost BP one red cent!
The cost will be passed along to the consumer with higher fuel prices.


You got that right, always will. We the People need to rebel from this addiction to oil, and feeding the greedy oil companies. Here is how we did it, you can do the same.
HHO Hydrogen Generator Fully Assembled Premium

Just hook up to a switched 12 volt source, attach the vacuum line to a vacuum inlet on your intake manifold, fill with clean water, and go. The HHO gas expands like magic, up to 1800 times or so from liquid to gas, and the gas expands in the induction system too, so it pushes it's way past the gas/air mixture giving the vehicle a vast rise in gas mileage, in my own vehicle, a 1990 G-20 Chevy, 4300# van we went from 22 highway to 67, and from 12-16 city to 39. We are already thinking of upgrading to a larger model.
If I switch it to a carburetor and HEI high energy ignition system, we could start the van on gas, engage the HHO generator, shut the fuel pump off, and run on just the HHO. Cannot do this on a fuel injection, the van's PROM computer will not know how to handle it. The more of these slick little units out there, the more price of gasoline will be forced down. Eventually this technology will be on production cars, BUT! They will want you to go to a Hydrogen Station and fill up a TANK with this explosive mixture. From a basic engineering standpoint, keep is simple,, it is mush better to make the HHO at a nearby source, and not to store any on the vehicle. This is the fuel that powers the Space Shuttle, you know.



posted on May, 2 2010 @ 03:39 PM
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Originally posted by Sinter Klaas
I was wondering. How much do you pay for a liter / gallon ?

I live in the Netherlands and yesterday I payed 1,51- euro a liter.


The average in the U.S. now is around $3 per gallon. Converting euros and liters to dollars and gallons, you're paying around $7.63 per gallon.



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