Thursday, July 8, 2010

Texas Requests $25 Million from BP (NYSE:BP)

Now that Texas has oil starting to wash up on its shores, the state has now asked BP (NYSE:BP) for $25 million in order to clean up the mess, which has initially come in the form of tar balls.

Texas Attorney General Greg Abbott said, “While we do not yet know - and cannot yet calculate - the ultimate damage this ecological and economic disaster will inflict upon the state of Texas, we do know that BP will be held fully financially accountable for the costs incurred by the taxpayers.”

According to Daren Beaudo, a BP spokesman, the tar balls which landed on Texas beaches didn't come directly from the well, citing the Coast Guard, but were probably carried by ships instead.

“It was confirmed that the oil was Deepwater Horizon, but very fresh, not consistent with weathered oil reaching Texas from the well site," Beaudo said. “Suspicion is that it travelled in ships’ ballast or on hulls...."

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