Tag Archives: tax breaks

US public to be taxed $12 billion forGulf of Mexico oil spill

BP is trying to reduce its tax bill in the United States by $12 billion owing to expenses incurred during theGulf of Mexico oil spill. This debate will once more pit BP and the USofficialdom and public against one another. … Continue reading

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Gulf of Mexico – total costs to be $85 billion

 Experts for once agree. Three independent estimates converge for the total cost exposure of BP to the Gulf of Mexico oil spill around $32 billion: BP announced their liability exposure to the market at $32.2 billion Bloomberg asked 11 experts … Continue reading

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Fishy but slick economics: costs update, from one red herring to another

The Slick Economist is getting nauseous at the continued exposure in the media of BP’s investment in the clean-up operation in the Gulf and beyond. It is almost the only monetary figure we hear. What about the total economic value? … Continue reading

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How will the BP Gulf Oil Spill Compensation Fund disburse funds, and to who?

“There’s not enough money in the world to pay every single small business that claims injury no matter where or when,” Kenneth Feinberg told the House of Representatives Committee on Small Business. Feinberg is head of the Gulf Spill Independent … Continue reading

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Equally faulty? American taxpayers to pay same as BP for oil spill

Two previous posts by the Slick Economist show that BP’s creation of a $20 billion fund, hides the fact that BP’s actual exposure is up to 42% less. This third investigation, adds a final screen to the profile of the … Continue reading

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Slick accounting: BP’s cost exposure down 42%?

In a previous post, the Slick Economist showed the current value to BP of the $20 billion escrow fund to pay for spill clean-up and remediation is 11.35% lower in current value owing to the scheduling of payments and typical … Continue reading

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How much are BP going to end up paying for the slick?

The likely bill comes in three parts (The Economist). Direct costs of plugging the well and cleaning up the pollution under the Oil Pollution Act (OPA) 1990 must be borne by BP (two-thirds) and partners (Andarko 25%, Transocean 10%) and … Continue reading

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