answersLogoWhite

0

Why does BP gasoline have to pay for the current oil spill?

Updated: 8/18/2019
User Avatar

Cinimonblu

Lvl 1
13y ago

Best Answer

British Petroleum is the operator and primarily responsible for the clean up costs and damages.

User Avatar

Wiki User

13y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Why does BP gasoline have to pay for the current oil spill?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Who is paying to clean up the BP oil spill?

Currently the BP and the American Government (and indirectly the American taxpayer) are paying to clean up the BP oil spill. It is expected that Cuba will have to pay for the spill as well when the oil hits their shores.


How much did Transocean pay for their role in the BP oil spill?

US$1.4 billion.


How do you know how much tax you will pay on gulf oil spill settlement?

set aside 20%, its treated as income.


What has the BP Oil Company done about the oil spill in the Gulf of Mexico?

Well they have had a few failed attempts to cap the oil. They're doing an okay job of cleaning up the oil. And they have sent out paid people who lost jobs cause of the oil spill.to clean up the oil. People who do not want to be trained to clean up oil can work in an office.Information:BP have updated their website with much information about the oil spill, including live feeds of the oil spill. BP releases press statements nearly daily regarding the oil spill. There are many press conferences regarding the oil spill.Money:A large fund has been set up to pay for the costs of the clean-up of the oil spill. Many people have been paid by BP due to loss of work claims, in particular fishermen or crabbers.


How bad did BP get punished for the spill in the gulf?

BP has not paid any fine for the gulf oil spill. In the future they may be forced to pay for the damages caused by the oil spill. It will be decided by judges in court. If BP had spilled oil in the Gulf, then it would be required to pay a fine. However, this was an accident, so it is first necessary to determine whose fault it is that the accident occurred, and then what was the value of the damage from the spill. Both individuals and the US government agencies are preparing to sue BP in court. In the case of individuals, these cases will most likely be consolidated into class-action lawsuits, representing many individual claims. See related links.


What are 5 negatives that can happen if an oil spill happens?

It won't be easy to clean up. It won't be easy to apportion blame. It won't be easy to pay for it. It won't be easy to predict the next spill. It won't be easy to get elected president next time.


Who should pay cost of BP oil spill Halliburton Cameron Transocean or MMS US Government?

It is B.P company that should pay the money for carelessness, but we must also see if it was a real accident caused by natureas wel.


Is there a maximum price a company can charge for a good For instance If I pay 10 for a widget from a manufacturer can I charge my clients 100 for that widget 1000 any limit?

A company can only charge what their customers are willing to pay. A great example is current gas prices in the US: All consumers are complaining about the prices and how much profit the oil companies are making, but are still paying for the gasoline!!


When oil was 140 dollars per barrel we paid over 4 dollars a gallon for gas but now oil is 70 dollars per barrel so why do we pay almost 3 dollars per gallon instead of 2 dollars?

The price of gasonline is more than just what is paid for the oil extracted from the ground. That gasoline price also includes refining, shipping, and sale (like the people who work at gas stations). From December to June 2009, gasoline prices went from about $1.50 to $2.50, while oil went from $30/barrel to $70/barrel. That translates, very roughly, to a $1 increase per gallon of gasoline for every $40 per barrel of oil. That would mean that if oil sold for $0, gasoline would still cost about $.75 a gallon. Keep in mind, the $1 gasoline for $40 of oil is a very unscientific method. Yet it is somewhat consistent. At July of last year, oil was $147, and gasoline costed on average $4.12, I think. That means the cost of oil then was about $80 more than it is right now. That translates to an extra $2/gallon for gasoline. Add those two dollars to the current price of $2.50/gallon, and you end up with an estimated $4.50- not a far cry from the actual $4.12.


What are the economic importance of crude oil?

The economic importance of crude oil is that it is used to produce gasoline and other fuels used around the world. Countries must pay large amounts of money for these resources which drive the economy.


How much will the oil spill cost bp?

BP has already spent $450m on drilling relief wells, preparing the clean-up and giving grants to states; it has promised to pay all "legitimate" damages.


What would cause the cost of gasoline to go up?

The price of oil going up in the middle east. We get oil from the middle east and oil is in gas so if oil is high the gas will be high but most the time we should not have to pay so much but the oil companies are just being greedy. -C.I. (Peace Y'all!!)