{"id":579297,"date":"2010-05-25T22:24:17","date_gmt":"2010-05-26T02:24:17","guid":{"rendered":"http:\/\/www.businessinsider.com\/whoa-bp-could-be-hit-with-a-staggering-60-billion-in-fines-over-the-oil-spill-2010-5"},"modified":"2010-05-25T22:24:17","modified_gmt":"2010-05-26T02:24:17","slug":"whoa-bp-could-be-hit-with-a-staggering-60-billion-in-fines-over-the-oil-spill-bp","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/579297","title":{"rendered":"Whoa, BP Could Be Hit With A Staggering $60 Billion In Fines Over The Oil Spill (BP)"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/image\/4b2f6ee30000000000adb958-301-224\/bp-texas-city-ap.jpg\" border=\"0\" alt=\"BP Texas City (AP)\" width=\"301\" height=\"224\" \/><\/p>\n<p>It sounds like the issue of limited liability for BP is moot.<\/p>\n<p>Both <a href=\"http:\/\/www.reuters.com\/article\/idUSN2514399520100525?type=marketsNews\">Reuters<\/a> and <a href=\"http:\/\/www.guardian.co.uk\/environment\/2010\/may\/26\/bp-extra-60bn-legal-costs\">The Guardian<\/a> are reporting that according to legal documents and a close reading of the law, BP could be liable for some $4300\/barrel that gushes into the water.<\/p>\n<p>&nbsp;In the worst case scenario, says the Guardian, with oil gushing at over 100,000 barrels per day for more than two months, the oil giant could be looking at a $60 billion fine. Reuters arrives at a more conservative estimate of $10 billion.<\/p>\n<p>Meanwhile, BP has already lost about $60 billion in market cap, but our guess is that if the ultimate fine were to be at the high end of the range, the stock would have a lot further to fall.<\/p>\n<p>L<a href=\"http:\/\/www.businessinsider.com\/top-kill-live-video-2010-5\">et&#8217;s hope operation top kill works as planned<\/a>.<\/p>\n<p><strong>Don&#8217;t miss: <a href=\"http:\/\/www.businessinsider.com\/nasa-pictures-of-the-oil-slick-2010-5#a-satellite-image-from-may-1-and-the-same-image-inverted-to-show-detail-1\">NASA pictures of the oil slick from outer space &gt;<\/a><\/strong><\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/whoa-bp-could-be-hit-with-a-staggering-60-billion-in-fines-over-the-oil-spill-2010-5#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/pB9jLikODR8\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It sounds like the issue of limited liability for BP is moot. Both Reuters and The Guardian are reporting that according to legal documents and a close reading of the law, BP could be liable for some $4300\/barrel that gushes into the water. &nbsp;In the worst case scenario, says the Guardian, with oil gushing at [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-579297","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/579297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=579297"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/579297\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=579297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=579297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=579297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}