Tags: US | Gulf | Oil | Spill | BP | Cost

BP's Gulf Oil Spill Costs Now at $1.6 Billion

Monday, 14 Jun 2010 07:53 AM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

BP's costs for responding to the massive oil spill in the Gulf of Mexico have risen to $1.6 billion.

According to a company news release, that includes new $25 million grants the British oil giant has given to Florida, Alabama and Mississippi. It also includes the first $60 million for a project to build barrier islands off the Louisiana coast. The estimate does not include future costs for scores of lawsuits already filed for damages.

BP is now siphoning off significant amounts of oil from its runaway well 5,000 feet underwater, but the next best chance for ending the spill won't come until relief wells are completed in August. Already potentially more than 100 million gallons of crude have been expelled into the Gulf, far outstripping the Exxon Valdez disaster.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Threats to NYPD Officers Grow Despite de Blasio Efforts

Thursday, 25 Dec 2014 11:42 AM

New York City police have arrested two Brooklyn teen-agers for making death threats against NYPD officers, and have ramp . . .

Lawmakers Promise to Help Strapped Oil-patch Towns

Thursday, 25 Dec 2014 10:36 AM

Elected leaders in Montana and North Dakota say they hope to offer help to local governments struggling to provide publi . . .

Ex-president Bush Spends Another Night in Texas Hospital

Thursday, 25 Dec 2014 07:28 AM

Former president George H. W. Bush greeted Christmas Day Thursday in a Texas hospital, where he remained for a second ni . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved