Are the British Petroleum going to pay for damages?

Are they going to be responsible for clean up costs and ecological damages done by this "oil spell"?

6 Responses to “Are the British Petroleum going to pay for damages?”

  1. rich Says:

    Yes, BP will pay for damages. I shouldn’t be cynical, but where do you think "they" get their money? From the donut fund? Do you think there is a magical insurance company that pays for a big accident? You and I will be paying for this in higher prices at the pump. You may already have noticed the increase. Learn a little lesson here: corporations don’t pay for anything. They take profit for as long as there is positive cash flow, and then they dissolve when things go south. If there are big costs associated with their dissolution, customers, stockholders, and governments are left holding the bag, or in this case, doing the clean-up. Oh, I think BP is still in operating condition, so "they" (you and me at the pump) will end up paying for this accident.

  2. jxt299 Says:

    The cost could be astronomical. If the oil keeps gushing it will continue destroying beaches, the clean up could take years, the cost could bankrupt the company. In fact, if I were BP I’d be looking into bankruptcy right now, I’d shield what assets I could and bankrupt whats left. Not that that would be right, but its the only way at this point I could see not losing the value of the corporation.

  3. El Loco Says:

    Ya right. There’s no way they’ll pay it. Just look at other commodities extraction industries throughout American history and you’ll find that big industry has a way of destroying the commons and forcing the US government to clean up the mess. Superfund sites dot the landscape that still need to be federally funded to be cleaned up because the companies either don’t the have funds or are out of business. Google "Berkeley Pit" to see what I mean.

  4. Don't Panic Says:

    They’re going to do whatever they have to, to maximize profit. If that means paying for damages that’s what they’re going to do.

    They’ll probably end up paying more in legal fees and damage control of their public image, then in actual clean up.

  5. 95% will see no tax increase Says:

    yes they will

  6. Annou Nimmis Says:

    Get real! The oil companies have the US government in their back pocket. Exxon didn’t pay for more than a tiny fraction of the damage done by the Exxon Valdez oil spill, and they fought for every penny. In fact, a few weeks after that spill, Exxon was gloating about how it would not affect their profits. Look for the same thing to happen this time.

    When are we ever going to realize just how evil those oil companies are and do away with them?