bp could pay entire cost of cleanup with 3.8 days of profits

[Dinger]

http://rawstory.com/rs/2010/0511/bp-pay-entire-cost-cleanup-38-days-profits/


That is all.

[hobbit709]

1. But, but, the stockholders are more important than the ecology.

[SidDithers]

2. How does rawstory know the "entire cost of cleanup"?...

When the well could continue to gush for months?

Sid

[madokie]

3. Its just more bunk

[TampaAnimus2010]

7. Not to mention it's not counting all the lawsuits coming down the pipe..

No pun intended

[stranger81]

11. Appears to be a reference to the total cost announced by BP so far

which, as of this morning, was just shy of $1 trillion. BP has been very proactive about announcing what it's allegedly spent on the cleanup to date. It's the damage they've caused so far that they refuse to quantify.

[DrDan]

4. clean-up will be the small part of the loss

[Dinger]

10. That's True (nt)

[bettyellen]

5. that's amazing coinsidering that experts agree 80-90% of the oil is not recoverable at all

[Statistical]

6. Might want to change title. the article says THUS FAR

"BP could pay for the entire costs of its cleanup thus far"

The amount paid thus far (about $800 million) is a tiny fraction of the total cost.

Right now most of BP efforts are on mitigation not cleanup (booms, burning, dispersents, etc).

The leak hasn't stopped yet so mitigation will continue.
Long term cleanup historically is 2x to 5x the cost of mitigation.

Damages could be $10B is Congresses raises the cap.

[BrklynLiberal]

8. You are right. It might even cost them a few months profit....if they will actually spend

what they claim they are willing to spend..and cover all the damages they really should.

They have more money that they will ever now what to do with..

[blindpig]

9. Why do you hate stockholders?

Management may be assholes but they work for somebody. It all comes down to capitalism.