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BP calls an end to Gulf of Mexico spill

BP has today issued a statement suggesting that the Gulf of Mexico oil spill, which has seen millions of barrels of oil leak into the sea, is coming to an end. The company has carried out a process known as "static kill" which effectively places tons of heavy mud on the existing cap to permanently seal the troubled oil well. However, it is only now that the real process begins for BP which could see the company pay out billions upon billions of pounds of compensation aside from the cost of the cleanup operation.

It is alleged that other partners in the deep-sea oil rig have refused to step forward to cover their percentage of the cleanup costs although this has yet to be confirmed. There is no doubt that BP has been hung out to dry with regards to the Gulf of Mexico disaster as historically there have been disasters on a similar scale involving US companies. However, as we approach the next major election campaign in the US calendar it seems that the government of the day would rather deflect any criticism of the economy and search out a scapegoat.

Over the next few months it will become apparent how much this disaster will actually cost BP and how much damage has been caused to the environment.

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