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

 

Share:
  Comment  |
   Contact Us  |
  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 This material may not be published, broadcast, rewritten or redistributed.

Share:
  Comment  |
   Contact Us  |
  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.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Florida Man Convicted of Killing Unarmed Teen Over Loud Music

Wednesday, 01 Oct 2014 21:22 PM

A Florida jury found Michael Dunn, a middle-aged white man, guilty of first-degree murder on Wednesday in the shooting d . . .

NY Post Settles Boston Marathon Bombing Lawsuit

Wednesday, 01 Oct 2014 22:23 PM

The New York Post has reached a settlement in a Boston Marathon bombing defamation suit.
 . . .

Dick Morris: Obama Went Out of Way to Miss Intelligence Briefings

Wednesday, 01 Oct 2014 11:15 AM

President Barack Obama has missed 58 percent of the national security intelligence briefings during each of his terms in . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

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