BP’s Gulf Costs Accelerate as Cleanup Work Peaks: Chart of Day
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BP Plc’s expenses for stopping and cleaning up the worst oil spill in U.S. history have accelerated as it prepares to strengthen its capture system for the hurricane season.
The CHART OF THE DAY shows how costs have risen to $2 billion so far from $450 million on May 13, the first day BP published its expenses. On a daily basis, they have accelerated to $33 million from $20 million since the April 20 accident that started the leak. Sanford C. Bernstein Ltd. expects the bill to rise to $3.5 billion by the time relief wells are scheduled to stop the flow of oil and gas from the sea floor in August.