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Reuters: Last month, BP increased by $8 billion the financial provisions it was taking for the Gulf of Mexico oil spill; the company's shares rose. Better-than- expected underlying profits and upbeat comments from new Chief Executive Bob Dudley were taken by the market as a sign the company had turned the corner and would soon return to pumping out steadily rising dividends.
Key to this sanguine outlook is confidence that the new estimate of the total cost of the spill -- $40 billion -- will be sufficient.......
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Special report: How BP’s oil spill costs could double
Posted by Washington Post: Juliet Eilperin on December 1st, 2010
Posted in Water Conservation