Diadem wrote:Costs are already way over that. And still rising. First there's cleanup cost. BP already spent 1 billion on that. And there's many months of cleanup to come. I'm sure that the US government is going to send over a bill for their costs as well. Then there's massive damage to the fishing and tourism industry, and everything that depends on this. Fishing is basically gone for dozens of years to come. That's a lot of billions of dollars. And those famous beaches will never be the same again. Finally and most importantly, the ecological damage. It's hard to put a dollar value on that, but they've basically obliterated an ecosystem the size of a medium-sized country.
Damages are different to cleanup costs though, there's no need to pay up immediately.
Anyway, I was reading the FT yesterday, and it had an interesting thing in there, a little article on the effects of Obama's moratorium on deepwater drilling; According to remarks from the governer of Louisiana that moratorium has singlehandedly caused more financial damage to the economy than the slick has. With an estimated 5-7K jobs lost already, and upto 20k jobs threatened.
Now tell me I'm wrong, but when thousands of people lose their livelyhoods in an accident, you'd think that then killing thousands more jobs in the same geographic area would be exactly what you wouldn't want to do.
It's also worth noting that claiming >90000 BPD (and attempting to ad validity by claiming that it's not BP's estimate) is just plain wrong on two levels, the current accepted
estimate is 19000 BPD with the capture mechanism extracting 1-2k bpd, secondly with over 160 companies, agencies and institutions working together under the flag of BP's rescue efforts (including the majoratity of the US gov't.'s top engineers in the field), it's disningenuous to make out like they're somehow decieving themselves as to how bad this is.