The nearly $1 billion spent so far on oil spill cleanup in the Gulf of Mexico is just the beginning, according to a Credit Suisse analysis. Total costs could run in the tens of billions of dollars, with cleanup accounting for only half the bill. Economic damage to the fishing and tourism industries is projected to be steep. Under U.S. law, the costs of cleanup and damages are shared by the leaseholders: BP (65%), Anadarko Petroleum (25%) and Mitsui (10%).
SOURCE: Credit Suisse analysis | By Karen Yourish and Laura Stanton - The Washington Post - June 6, 2010
Cap placed on well is slowing flow of oil into the gulf Article | A containment cap placed over BP's gushing undersea oil well captured 6,077 barrels of oil during its first 24 hours in operation, between a quarter and a half of the amount that is spilling into the Gulf of Mexico each day, authorities said Saturday.