BP - RIP
by HUMERUS - Media Epicondyle
Collect your choice of gallery quality Giclée, or fine art prints custom trimmed by hand in a variety of sizes with a white border for framing.
An estimated 1.6million gallons of oil spilt since the BP-operated Deepwater Horizon rig exploded and sank, creating a slick more than 130 miles long and 70 miles wide. BP announced that the Gulf of Mexico oil spill cost the company $1.6billion. The London based company said that included in the $1.6 billion figure were payments of $62 million that have been paid out to 51,000 claims. With several years (or decades, even) of cleanup ahead, the $1.6 billion is merely an initial cost figure. Credit Suisse actually estimated the total bill at $37 billion. Polly Higgins, a campaigning environmental lawyer, says in the end fines were 'hopeless' at deterring companies from taking potentially devastating risks, particularly large multinationals like BP whose profits exceed the GDP of a small country. "These companies already factor in the legal fine costs - it's and extrernality that in the end the person buying their final product pays a bit extra to cover'.