Monday, June 7, 2010

BP (NYSE:BP) Cleanup Cost $1.61 Billion

Including the $360 million it'll cost to set up barriers in Louisiana to protect its coastline, cost for the cleanup effort from BP are up to $1.61 billion, and climbing.

Excluding the berms being built in Louisiana, current costs stand at $1.25 billion.

As far as stopping the oil leak goes, according to U.S. Coast Guard Adm. Thad Allen they amount of barrels of oil a day being collected is approaching 15,000, which is in about the middle of projections of between 12,000 to 19,000 barrels a day escaping into the gulf.

It is highly unknown at this time what the eventual overall costs of the oil spill will be in area, but it'll be many billions before it's through.

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