Monday, November 15, 2010

Deepwater Horizon Oil Spill: Preliminary Assessment of Federal Financial Risks and Cost Reimbursement and Notification Policies and Procedures -- GAO

This report from the Government Accountability Office (GAO-11-90R) finds that "The total cost to clean up this massive and potentially unprecedented spill, the damage to the environment, as well as the potential impact to the livelihood and economic status of businesses and individuals in the region will undoubtedly be significant, with current estimates from BP and Oxford Economics in the tens of billions of dollars. However, the full extent of such costs and the extent to which they will ultimately be paid by the Responsible Parties or federal, state, and local governments is unknown at this time and depends on a variety of factors."

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