BP counting the cost of oil leak

As BP starts to release the pressure on the capped oil well in the Gulf of Mexico in an attempt to stop seepage through the surrounding bedrock, it has emerged that they have now paid $200m already to over 30,000 claimants following the Gulf oil disaster.

The oil spill in the Gulf of Mexico is the most damaging environmental problem the US has ever seen. Spill containment booms and skimmers are still being used on the surface, to try to stop the worst of the spill reaching landfall.

The oil spilt from the Deepwater Horizon rig has now damaged hundreds of miles of US coastline with the damage to the region’s economy at unprecedented levels. The total cost of dealing with the spilt oil is now estimated to be over £3.5billion. BP is currently evaluating 17,000 further claims for compensation with over 60,000 more people currently in the process of discussing their claims with BP.

David Cameron, the British Prime Minister, is meeting US President Barak Obama today, with the BP oil spill expected to be high on the agenda.