BP to take $1.7B charge for Deepwater Horizon

BP said Tuesday it will take an additional charge of $1.7 billion (1.4 billion euros) in the fourth quarter of 2017 linked to the Gulf of Mexico oil spill disaster in 2010. And BP said in a statement it also expects to be hit by an additional $3.0 billion of Gulf-related costs this year, up from a previous estimate of $2.0 billion. And this comes as US administration is easing safety regulations 

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The spill will hunt BP forever, I looks like. The payout will add to a disaster bill that BP last estimated at over $63 billion, a toll that continues to mount years after the company’s $20 billion settlement in 2015 with the U.S. government. 

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Much of the newer regulations were written by folks who knew nothing about undersea exploration or production

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Had the safety regs been in place Deep Water Horizon would never have happened. BP was so shoddy in their internal controls that the blowout preventor had dead batteries which is why it failed to work.

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I can tell you all watched the movie

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The question is would any of these regulations helped to avert the Deep Water Horizon. However, that spill cost BP $60+ billion, as someone mentioned. The savings from the regulations is $33 million. So it would takeover hundreds of years for those savings to offset the cost of that spill.

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10 hours ago, Joanna said:

The question is would any of these regulations helped to avert the Deep Water Horizon. 

the movie suggests yes. :)

It WAS a really good movie, even if it wasn't factual.

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