Monday, June 21, 2010

BP Spends $2 Billion for Gulf Oil Spill

BP announced Monday that they have spent $2 billion in fighting the Gulf Of Mexico oil spill and compensating families in two months and there seems to be no end in sight. 
The British oil company announced the $2 billion in spending includes $105 billion paid out to 32,000 claimantsBP have also agreed to set up a $20 billion fund for Gulf residents and businesses hurt by the spill.   
Researchers estimate that 68 to 126 million gallons have spilled from the ocean floor since the explosion of the Deepwater Horizon in late April. 
August is the earliest that workers will complete 2 relief wells that will be the best chance of stopping the spill. 
When will the spill be contained?
Only time will tell.
With no end to the spill in sight these numbers are expected to increase dramatically and what will be the affect to the environment?

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