BP oil spill loss worth $100bn now

bp-oil-spillAccording to the latest predictions in house regarding the mounting concern over the company's liabilities of BP, the ongoing vows of the oil spill that has caused environmental and economic damage now may plunge to $100 billion.

Louisiana Treasurer John Kennedy forecasted that the damage to Gulf of Mexico states may step the ladder by 12 figures, after BP's chief executive Tony Hayward was thronged open to respond to the US Congressmen comments who declared the company of "astonishing complacency",

After having an agreement to keep aside $20 billion as a special compensation fund, investors seems tensed over the Londoners' liabilities which could reach beyond that figure.

Yesterday, the Standard and Poor's snipped off the company's credit rating, and sent the warning waves regarding the further downgrades which may trail up to 60,000 barrels of oil day seepage from the damaged pipe in an explosion underwater Horizon drilling rig.

The said accident reported to left 11 people dead during the incident. Till date BP's has shouldered a cost of $1.8bn, which entails cost of the spill response, containment, relief well drilling, grants to Gulf States, and federal costs. However the repeated attempts to cap the leak have been found unsatisfactory and hence got detained.