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Originally posted by AnthonyT:
Hello,

I've been reviewing some numbers on CNN to see if BP is likely to be able to afford this disaster.

The answer I've come up with is YES. As long as they can continue spending money at the current rate, they will not only survive this disaster, but they will turn a profit.

In 2009, BP made a profit of 16.578 Billion dollars. That's an impressive figure. And that's Profit, i.e. the money you have left after paying your bills.

In the ~ 2 months since the disaster began, BP has spent 1.6 Billion on everything. Cleanup, Payouts, Repairs, Everything.

If they continue spending at the rate of 1.6 Billion dollars every 2 months, they will spend 9.6 Billion in one year.

This means that, using 2009 figures, BP would still have 6.9 Billion in profits.

It's astonishing to think about, but this company might hose the entire gulf with oil and still make a buck doing it.

--Anthony


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