http://www.bloomberg.com/apps/news?pid=20601102&sid=aN5Ah2PAtMaY
Here's BP's last quarterly report, it's obvious that they are doing quite well.
Administration officials said the company will pay as much as possible
The question is: Who makes the decision that "as much as possible" has been met?
And is BP's corporate survival a concerning factor in that "as much as possible" decision?
In other words is there a fail safe in place, that can automatically be used to ensure BP's survival, or does "as much as possible" actually mean till BP breathes no more?
And if there is why should they be allowed to live?
April 27 (Bloomberg) -- BP Plc, the energy company battling a 1,000-barrel-a-day leak in the Gulf of Mexico, said profit more than doubled in the first quarter on higher oil prices.
Net income jumped to $6.08 billion, or 32 cents a share, from $2.56 billion, or 14 cents, a year earlier, London-based BP said today in a statement. Excluding gains or losses from holding inventories and one-time items, earnings beat analyst estimates.
“BP has reported a very strong set of earnings,” said Peter Hitchens, an analyst at Panmure Gordon & Co. in London. “There was a strong performance from the underlying operating divisions, especially with exploration and production. The refining and marketing business came in slightly ahead
http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7717695/Gulf-of-Mexico-oil-slick-new-Nasa-image-shows-it-looking-like-a-swan.html
Also on Wednesday, President Barack Obama asked Congress for at least $129m (£87m) in new emergency funding to cope with wide-ranging fallout from the massive oil spill.
Administration officials said they couldn't forecast total costs from the cleanup of the massive spill and a multitude of economic damages to the Gulf region, but the changes they're seeking in the legislative package suggest a multibillion-dollar response.
The administration wants to increase from $1 billion to $1.5 billion the amount that could be spent from an emergency cleanup fund paid with industry fees, and raise a $75 million liability limit BP would bear for costs not directly connected to cleaning up the spill, such as lost wages and tourism.
Administration officials said the company will pay as much as possible.
Some of the new proposed spending, including money for the Interior Department to conduct inspections for proposed offshore drilling leases, cannot be charged to BP.
White House energy adviser Carol Browner said: "We take BP at their word. They say they intend to pay for all costs. And when we hear 'all' we take it to mean all."
BP were unavailable to comment, but the company has said it will pay cleanup costs and "legitimate claims”.
