BP Oil Spill Cost Hits $1.6 Billion

This are the cost of that 1.6 billion.

London-based BP [BP-LN 340.50 -1.50 (-0.44%)] said in a statement on Monday that 51,000 damages claims had been submitted and that more than 26,500 payments, worth over $62 million, had been made.

The $1.6 billion includes only $60 million of $360 million the oil major has committed to building barrier islands off the Louisiana coast.

So BP is been generous after all, even when they can pretty much walk out of this clean.

This tells me that the oil holdings of BP in the gulf are very rich and profitable when they are willing to spend billions to keep holding to them

Very interesting. . .

It was a time when America was number one oil producer until the 70s oil crisis, I wonder if that oil crisis was created by the greedy hands of our own oil barons to exploit other nations, perhaps America still holds number one reserves of oil after all

www.cnbc.com...

Originally posted by marg6043
This are the cost of that 1.6 billion.

London-based BP [BP-LN 340.50 -1.50 (-0.44%)] said in a statement on Monday that 51,000 damages claims had been submitted and that more than 26,500 payments, worth over $62 million, had been made.

The $1.6 billion includes only $60 million of $360 million the oil major has committed to building barrier islands off the Louisiana coast.

So BP is been generous after all, even when they can pretty much walk out of this clean.

This tells me that the oil holdings of BP in the gulf are very rich and profitable when they are willing to spend billions to keep holding to them

Very interesting. . .

It was a time when America was number one oil producer until the 70s oil crisis, I wonder if that oil crisis was created by the greedy hands of our own oil barons to exploit other nations, perhaps America still holds number one reserves of oil after all

www.cnbc.com...

I am tired of hear only about money, what about the nature, the environment, the animals?

They make 20 billions profit per year, so money is the smallest problem.

reply to post by cushycrux


While I agree with you, that we have an environmental crisis in our hands of the kind that our nation have never seen before and of historical value, when it comes to money, you know, money talks and BS walk, or may I say BP walks.

In our nation it doesn't matter how our government wants to portray a vision of concern about our environment at the end is all about money.

As long as the people in the gulf gets compensated for the "loses" screw the environment.

Get it.