{"id":733593,"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.com\/index\/733593","title":{"rendered":"Whoa, BP Could Be Hit With A Staggering $60 Billion In Fines Over The Oil Spill (BP)"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"float_right\" src=\"https:\/\/i0.wp.com\/static.businessinsider.com\/image\/4b2f6ee30000000000adb958-301-224\/bp-texas-city-ap.jpg?resize=301%2C224\" 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":288,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4821],"tags":[],"class_list":["post-733593","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9NivD-34Q9","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/733593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/users\/288"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/comments?post=733593"}],"version-history":[{"count":0,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/733593\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/media?parent=733593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/categories?post=733593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/tags?post=733593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}