There's a good reason for BP to underestimate the flow of oil from the Deepwater Horizon incident in the Gulf of Mexico. Apparently, if US law is strictly enforced, and if criminal negligence is involved, as it very well could be, BP could be fined up to $4300 per day PER BARREL of oil spilled.
What could the fine end up costing BP? An article in the Guardian cites a US environmental lawyer as predicting the total fines to BP could reach up to $60 billion US if the spill continues unchecked for another two months. The estimate is based on an assumed daily flow rate of 115,000 barrels of oil. which is 21 times the official estimate of 5,000 barrels per day. Two months is the estimated time required to drill a relief well.
So, as you can readily appreciate, this makes the recently-announced U.S. federal inquiry into how much is being spilled all the more important, in more ways than one. Because at the end of the day, the company's survival may be at stake.
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