BP (NYSE:BP) CEO Tony Hayward said in a conference call with shareholders that the company has "considerable firepower" to deal with the short-term and long-term costs associated with the Gulf oil spill.
Hayward noted however the costs the company will have to face will be deep and extend over a long period of time.
Speaking on rebuilding the reputation of the company, BP Chairman Carl-Henric Svanberg said this, "We will meet our obligations both as a responsible company and also as a necessary step to rebuilding trust in BP as a long term member of the business communities in the US and around the world. This is in the interest of all our stakeholders."
The complexity of BP in the spill is recognized in the concerns of all involved, as many aren't taking into the consideration the consequences of pension fund savers in the UK and elsewhere which are heavily invested in the oil company, and are also being devastated by the tragedy as the company loses billions in value.
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