Pres Obama likens oil spill to 9/11
In a comment which is certain to grab the headlines and prove very controversial, Pres Obama has likened the oil spill in the Gulf of Mexico to the 9/11 atrocities. The families of victims from the 9/11 atrocities are outraged at the comparison and yet again, despite comments to David Cameron at the weekend, Pres Obama continues to wage a war of words against BP.
The company has now lost around £56 billion in value since the oil crisis began and many believe the US government will push for a $20 billion escrow fund to be held separately from the company to finance the cleanup program. It is believed that executives from BP will be meeting with Pres Obama this week to go over a number of points and we should then hear about further developments.
There has been intense speculation over the last few days that BP is on the verge of suspending its dividend program to shareholders in order to maintain as much cash as possible to cover the overall cost of the Gulf of Mexico disaster. However, at this moment in time the total cost is something of an open book with nobody any the wiser about when it will end and how much it will cost BP in the long run.
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