BP’s oil spill response costs reach $1.6B
Published: June 14,2010
GULF OF MEXICO — 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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Host families prepare for Mississippi Braves’ season
- JOSH MABUS — Mississippi’s Healthcare: Not a quality problem, a marketing problem
- PHIL HARDWICK: When will Mississippi change its culture?
- (VIDEO) ALAN TURNER: Wilson says he’s ready for elected office
- Ridgeland property rights tussle is expected to have wide impact
- Choctaws' new hospital nearing completion
- Plan would give up to $1.5M to music recording, concerts
- Mississippi furniture makers on rebound with more exports
- Mississippi takes an incentives licking, keeps on ticking