Since the April 20 explosion on the Deepwater Horizon oil rig, BP (NYSE:BP) has lost over $100 billion in market capitalization, as it dropped to a 14-year low on Friday.
So far the oil giant has spent about $2.35 billion on the cleanup, and those numbers will continue to skyrocket in the foreseeable future.
Bankruptcy talk continues to swirl about in the media, as the numbers continue to add up concerning potential liabilities, which in a number of scenarios would be unsustainable as far as BP being able to pay them.
The high estimates at this time are at about $100 billion as to how much BP could take on.
Today a spokesman for BP said they have the resources to handle the costs, but the reality is it'll depend upon what scenario plays out going forward.
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