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Pay it quickly – BP oil spill

June 21, 2010

Pay it quickly, but is 20 Billion enough?

As we have covered before, Kenneth Feinberg was appointed as the man to manage the BP oil spill compensation fund. It is said that the President Obama wants him to handle the payment process quickly.

The current cost of BP oil spill is 2 billion. The cost will also rise when the total loss of jobs could hit 1 million due to the oil spill.  There is a natural worry that 20 billion is not enough at all.

The BP’s maximum compensation could be only under 50 billion. It is because the total worth of BP is estimated about 100 – 121 billion.

If 20 billion really falls short, who will pay the rest?

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