BP spokesman Steve Rinehart told Bloomberg News that BP will deduct the $3.5 billion already spent on cleanup efforts and any future expenses:
"Taxes are paid on profits.
If our profits are down due to increased expenses such as the cost of responding to this spill, then it follows that our tax bills will be lower as a result."
Something is smelling fishy in the Gulf.
How is it possible to fail so miserably at containing and cleaning up the spill? The Trifecta gang are beginning to wonder if it's more than mere incompetence preventing the Obama Administration from taking the BP spill bull by the horns.
Oil multinationals Exxon, Chevron, ConocoPhillips and Shell had virtually the same inadequate response plans as BP in the event of a blowout or spill at an offshore rig - including the phone number of a long-dead marine scientist and how to protect walruses (not found in the gulf).
Instead, they were far more concerned with managing the PR damage.
Source:
http://www.guardian.co.uk/environment/2010/jun/15/exxon-bp-oil-gusher-congress
President Obamas next task? Shaping the public reaction to the gulf spill so that we can use it to generate the will to break our addiction to oil.
Source:
http://www.nytimes.com/2010/05/30/opinion/30friedman.html
Most news accounts of this spill are repeating a much lower estimate of 210,000 gallons (5,000 barrels) per day, an unexplained number that NOAA and the Coast Guard were using for a few days until they admitted a week ago that they couldn't accurately estimate the flow rate.
We estimate this well is leaking at a rate of (26,500 barrels) per day.
Source:
http://blog.skytruth.org/2010/05/bp-gulf-oil-spill-modis-satellite-image.html
