BP plc’s (NYSE: BP) clean-up costs for the Gulf leak have hit more than $2.35 billion. That only includes expenses to contain the spill and modest payment to area residents and business. The UK-based firm still faces payments of $20 billion into an escrow account to cover future costs and litigation which would face the firm with billions more in liability expenses.
According to the Guardian, 37,000 people are trying to contain the spill.BP continues it fight against time. The well is leaking as much as 100,000 barrels of crude a day. The containment device BP has on the well-top collects about 35,000 barrels. The size of the slick is growing and has reached Florida. Some scientists believe it could move into the Atlantic next month and hurt fishing and tourism on the Eastern seaboard.
In the meantime, a tropical storm in the southern Gulf is more likely by the day to turn into a cyclone. It is just south of Cuba.
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