jump to navigation

Gulf Oil spill: BP will have to pay… twice! May 3, 2010

Posted by mytruthaboutoil in Oil (general), Oil giants, Uncategorized.
Tags: , ,
trackback

American president Barack Obama on Sunday made it clear that Oil major BP,  responsible for the oil spill and the unprecedented environmental disaster to come in the Gulf of Mexico, will have to pay for its failure to prevent the accident.

The total cost of this gigantic oil spill could rise up to 4 billion dollars according many experts and would include the cost of  repairs on the leak, as well as environmental and economical costs (40% of American seafood comes from Louisiana waters).

4 billions! An impressive figure by itself! But BP might lose much more than that with this disaster. It’s of course a PR and communication disaster for the oil giant. But it’s most certainly a disaster on the stock market value of the company, which lost 17% of its value on Monday!!!

And nothing says that the downfall will stop anytime soon. Any day without appropriate answers to the repair of the leak will be terrible news for BP. And we’ve not yet seen awful images of wildlife polluted and angry fishermen stuck in the harbors.

It will certainly get a lot worst for BP in the coming weeks…

Advertisements

Comments»

1. michael - June 4, 2010

The oil pollution is an environmental disaster. It will take many years, if ever, to restore the ecosystems impacted by the leak.
But the righteous attitude of the American government, and to an extent, the American people, is not pleasant to see.
The Union Carbide gas leak in Mumbai in India in 1984 killed 5000 that night and 15,000 more in the following few weeks!
This poisoned site has STILL not been cleared up after 23 years, and there are many children STILL being born with birth defects every year.
If it is right that America gets their environmental disaster cleared up then the same should apply to Mumbai where it is people, particularly children, who are suffering and dying from the effects of their polluted land.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: