The $8 Billion Oil Spill
Posted on Sep 3, 2010
New estimates of the cost of the BP oil blowout in the Gulf of Mexico have jumped to a staggering $8 billion, up $2 billion in August alone as the company announced it had already paid out almost $400 million in claims to individuals affected by the spill. —JCL
BP says the cost of its Gulf of Mexico oil spill has risen to $8bn (£5.2bn)—a rise of more than $2bn in the last month alone.
The company said it had paid out about $399m in claims to those affected by the spill.
Last week, responsibility for the claims was transfered to the Gulf Coast Claims Facility (GCCF), which has so far paid out a total of $38.5m.
Plans to permanently seal the well were also progressing well, BP said.
AP / Gerald Herbert
Flames and smoke engulf BP’s Deepwater Horizon oil rig in the Gulf after an explosion on April 21.