BP knows its gusher is releasing up to 100,000 barrels a day - - far greater than its own earlier projections and the government's, too - - which means at the federal fine level of $4,300 per barrel, BP could be cited $430,000,000 per day, or $3 billion a week.
Sunday, June 20, 2010
You figure the flow might be stopped in another few weeks, if we are lucky, so on top of the initial $20 billion claims fund and other costs, can BP sustain these financial losses?
Another reason why Obama was smart to get the claims fund escrowed, beyond BP's reach.
A bird in the hand...