Top Ten True costs of BP Gulf Oil Spill

juancole.com — BP yesterday agreed to pay a fine of some $4.5 billion dollars from the US Department of Justice for malfeasance in the 2010 Deepwater Horizon oil spill, the largest fine paid in US history. BP also was forced by President Obama to pay out $20 billion for damage claims, though it has dragged its feet in actually making the payments. It faces further lawsuits and private payouts. The company’s profits in 2011 were were $40 billion. The fine was so slight that BP stock rose slightly on the news. Meanwhile the actual damage that the oil spill did to the environment was almost certainly man tens of billions more than any payouts BP has been forced to engage in.Here are some of the real costs of the oil spill, which typically won’t be mentioned in the media, and which dwarf in their cost a mere $4.5 billion fine.

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