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IPFS News Link • Energy
Some have wondered whether BP can financially survive the disaster in
the Gulf. Sure, the oil giant is a diverse, international money-making
machine, but the Guardian reported Monday that BP had already spent $1.25 billion seven weeks into the oil spill,
with no clear end in sight. The company will be dealing with an
avalanche of lawsuits for years (a New Orleans attorney told me she
expects that some local law school grads will spend the bulk of their
careers working on spill-related cases) and the company's stock recently nose-dived. In spite of all this, BP CEO Tony Hayward has repeatedly insisted that his company will see the disaster through until the Gulf Coast is "made whole" again.
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