British Petroleum, BP Oil Spill
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The BP Oil spill is being called one of the largest disasters to have happened.
Scientists are saying now it could be decades before we know the full impact
on the environment. The White House and BP have agreed to establish a
$20 billion compensation fund for victims of the Gulf oil spill headed by
Kenneth Feinberg. The Senate Judiciary Committee is expected to mark up a bill that would require restitution for violations of the Clean Water Act. BP's Liability Could
Already Be $80 Billion. A government scientist said BP's leaking well
may have been gushing as much as 40,000 barrels of oil a day, double prior
estimates. For BP, a Toll Likely to Extend Beyond the Cleanup Concerns
about BP's ability to meet all its obligations over the long haul are rattling the government, Gulf Coast residents and investors.