BP’s Spending on Its Spill is a Drop in the Bucket of Its Profits

By Kai Wright May 14, 2010

When a big, relevant story breaks, it’s easy to get lost in the daily torrent of information. That’s no doubt been true for many people as we all try to make sense of BP’s Gulf Coast oil spill, which NPR now reports may be as much as 10 times larger than the official estimate. But ABC’s Good Morning America offered a report today that pretty well distills this story: BP made $62 million a day in the first three months of this year. Which means that it has spent a lousy seven days’ profit so far on its supposedly Herculean effort to stop the disaster it created.