A penny saved…

BP cut some corners when they drilled the well that exploded and subsequently began leaking dangerous amounts of oil into the Gulf of Mexico. How much money did they save by cutting corners? BP hasn’t released the exact numbers, but according to the Houston Chronicle’s estimates it was approximately $5 million.

Something tells me it wasn’t worth it.

(h/t Balloon Juice)

3 Comments

  1. Ian

    Their stock has dropped over 50% now. Wonder if they will declare bankruptcy or be bought up. I saw a report saying the US government wanted to block them from declaring bankruptcy since it would limit their liability for the disaster.

  2. JohnS

    It would have been a savings of $5 mil had the well held. I’m sure they did not expect it to blow…
    They were close to capping and turning the well over to be someone else’s problem.
    Everyone takes chances, sometimes you gain, sometimes you lose.

  3. Chris

    JohnS,
    We should have regulations and regulators in place to make sure BP isn’t able to make bets (bets they seem fond of making) with the marine life and economic future of those who depend on an unsullied Ocean.