February 3, 2014 | Mark Paradies

What will the cost be at the end of the final BP-Deepwater Horizon trial? Houston Chronicle story provides possibilities…

The story in the Houston Chronicle has the following paragraph:

Barbier’s rulings on how much oil spilled and other issues, including whether BP was grossly negligent and how to apportion fault among participants in the Macondo well project, will trigger penalty proceedings that could set the company’s environmental fines up to $18 billion. That’s $6 billion more than the company collected in profit in 2012.

Next time you wonder about what might be the cost of an accident, perhaps your projections aren’t high enough???

For the complete article, see:

http://fuelfix.com/blog/2014/02/02/bp-digs-in-as-last-leg-of-trial-approaches/

Another quote from the article put doubt on the idea that this suit would end BP’s liabilities:

But even after Barbier hands down his decisions, the company could endure other oil spill costs for years. BP still faces potential state-level environmental fines and federal penalties stemming from the National Resource Damage Assessment, which could costs several billion dollars and take years to unravel, LeCesne of Loyola University said.

“’I think they’re only halfway there in terms of liability: it’s going to be spread out over many years,” LeCesne said, pegging the company’s total oil spill costs from $60 billion to $80 billion.’”

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