BP Putting Together a $50 Billion Cleanup Fund
As anger grows over the fact that BP's CEO is out watching a yacht race while the Gulf oil blowout festers, a London paper reports that BP is set to raise $50 billion to cover the cleanup costs for the biggest oil spill in U.S. history.
As anger grows over the fact that BP’s CEO is out watching a yacht race while the Gulf oil blowout festers, a London paper reports that BP is set to raise $50 billion to cover the cleanup costs for the biggest oil spill in U.S. history.
BP would not confirm any exact numbers, but the newspaper, The Sunday Times, reported that BP will raise $10 billion from bonds, $20 billion from banks, and $20 billion from other asset sales over a two-year period. –JCL
TRUTHDIG’S JOURNALISM REMAINS CLEARReuters:
BP is planning to raise $50 billion to cover the cost of the largest oil spill in U.S. history, London’s Sunday Times reported without citing sources. The paper said BP planned to raise $10 billion from a bond sale, $20 billion from banks and $20 billion from asset sales over the next two years.
[BP] had said last week that it would suspend dividends and increase the pace of asset sales to $10 billion this year.
A spokesman for the group would not confirm any numbers on Sunday, when asked about the Sunday Times report.
The storytellers of chaos tried to manipulate the political and media narrative in 2025, but independent journalism exposed what they tried to hide.
When you read Truthdig, you see through the illusion.
Support Independent Journalism.
With his reelection at stake, Barack Obama made a series of decisions to control the disaster. It's clear now just how calamitous they were.
A new probe finds Louisiana has failed to pursue millions in remediation for spills—money environmental groups say they desperately need.
A batch of corporate boards filled with sociopaths are knowingly killing us all. But one thing could end their murderous streak.
In a congressional district where voters rely on fossil-fuel jobs, it’s not easy, but it's absolutely essential.
A new investigation finds a range of industries were able to successfully mask their sponsorship of political ads on the social network.
It’s been going on since 2004, with no end in sight.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.