Friday, March 30, 2012

BP: U.S. Withholding Extent of Oil Spill

The U.S. estimated in August 2010 that 4.9 million barrels of oil, plus or minus 10 percent, spilled into the Gulf after a rig exploded, according to Bloomberg's best. BP Plc (BP/) said the U.S. government is withholding evidence that would show the oil spill from the Macondo well in the Gulf of Mexico was smaller than claimed.

BP has identified 10,000 documents, out of more than 80,000 the government has sought to suppress, that relate to estimates of the April 2010 spill, the London-based oil producer said in a court filing yesterday in federal court in New Orleans. The U.S. estimated in August 2010 that 4.9 million barrels of oil, plus or minus 10 percent, spilled into the Gulf after a rig exploded.

BP said March 2 it would pay an estimated $7.8 billion to resolve private plaintiffs’ claims for economic loss, property damage and injuries. The settlement, to be paid from a $20 billion trust set up in 2010 for spill victims, doesn’t resolve federal and state government environmental damage claims. BP has set aside $37 billion to cover spill costs.

Find out the truth at http://www.bloomberg.com/news/2012-03-30/bp-says-u-s-withholding-evidence-of-extent-of-oil-spill.html

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