BP’s Expected Oil Disaster Fine: $17.6 Billion

Posted by on Aug 3, 2010 in Government | No Comments

Ouch, this is going to leave a mark:

At its height, BP’s leaking well gushed 62,000 barrels of oil a day, the federal government said Monday in a revision of its figures that reveals how far off initial estimates turned out to be. The government and BP initially offered estimates of the leak at 1,000 and 5,000 of barrels a day shortly after it began in late April, eventually reaching an estimate of between 35,000 and 60,000 barrels a day after several revisions. The new estimate Monday by federal scientists means 4.9 million barrels of oil likely were released by the well before it was temporarily capped last month. BP hopes to complete an operation this week that will permanently seal the ill-fated well.

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