Posted: Jun 14, 2010 1:57 PM by Melissa Canone
Updated: Jun 14, 2010 1:55 PM
NEW ORLEANS (AP) - BP's costs for responding to the massive oil
spill in the Gulf of Mexico have risen to $1.6 billion.
According to a company news release, that includes new $25
million grants the British oil giant has given to Florida, Alabama
and Mississippi. It also includes the first $60 million for a
project to build barrier islands off the Louisiana coast. The
estimate does not include future costs for scores of lawsuits
already filed for damages.
BP is now siphoning off significant amounts of oil from its
runaway well 5,000 feet underwater, but the next best chance for
ending the spill won't come until relief wells are completed in
August. Already potentially more than 100 million gallons of crude
have been expelled into the Gulf, far outstripping the Exxon Valdez