BP has plenty of money to pay for spill damages

Discussion in 'Environment' started by JimH52, Jun 15, 2010.

  1. JimH52
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    JimH52 Gold Member

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  2. Old Rocks
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    Old Rocks Diamond Member

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    Before I would state that, we have to see how the life in the Gulf handles this disaster. If we lose a major portion of the fisheries in the Gulf, how do we put a price on that?
     
  3. JimH52
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    JimH52 Gold Member

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    I think a maximum esitmate of $70 Billion for this tragedy has been given. But, I really think that the damages long term will be beyond any estimate. It is quite likely that BP could liquidate and give its entire value to the Gulf disaster, and I am not sure if they could repay the damage entirely. We have never see anything like this before!
     
  4. Charles_Main
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    Charles_Main AR15 Owner

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    They currently have 7 Billion available. so I would say yes they can handle it. As long as they are allowed to make payments, because they do not have 20 Billion just laying around. I know its hard to believe what with the Dems and Liberals always telling us how they are super rich and always making massive profits. Fact is its only in the past decade or so they have been making big profits. Hell through out the 90's most of them were reporting major losses due to the very low price of oil at the time.
     

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