ThinkProgress:
“As hopes dim for containing the oil spill in the Gulf of Mexico anytime soon” after a giant containment dome failed, the cost of cleaning up the spill will continue to rise. BP is financially responsible for the disaster, and President Obama wants to raise the cap on what the company is liable for, as cleanup costs have already surpassed the current limit. BP said yesterday that it had already spent $350 million on the spill response, and the company’s stock has taken a big hit, but the “behemoth” company will almost certainly survive the disaster with little long term damage. BP’s daily profits dwarf the daily cost of spill response, and at the current rate, the company could cover the entire cost of cleanup thus far in just under four days of profits.
