BP Oil Spill Updates : $1.6B spends for Oil Spill Alone

New Orleans, Louisiana, – British Petroleum have merely spent an estimate of $USD 1.6 billion in its respond to the Americas biggest oil spill disaster.

According to its latest news release the big chunk of money is composed of a $USD 25 million grant given the British Oil firm have given to the states of Florida, Mississippi and Alabama. Including the first $USD 60 million for an infrastructure project which is to build barriers islets off the coast of Louisiana. But the amount estimated will not include impending cost for hoards of law suits already filed for damages.

Since the successful capping of the gushing oil rig, BP has continually capturing crude from the well 5,000 feet underwater, but the total containment of the gushing well won’t be completed till august after the completion of the relief wells. On the record an estimate of more 100 million gallons of crude have been contaminating the Gulf (including beaches, wildlife and even livelihood along the coast lines) breaking the record of Exxon Valdez disaster in the late 80’s.

In related story, after Federal demands to pace up the work to contain the leak at Gulf. BP has recently submitted a new plan to speed up its efforts to tame the gushing underwater well. With its new plan which will take effect by August. It will contain crude amounting to more the 45,000 barrels of it a day, almost double the size of its capacity today that range only from 16,000 to 18,000 barrels a day. BP’s move was an answer to the letter sent by the governments’ front man heading the clean up Coast Guard Adm. James Watson.