Gulf oil spill cost is $4 billion and counting

By ASSOCIATED PRESS
July 19, 2010 12:27

 
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BP stated Monday that the cost of dealing with the oil spill has now reached nearly $4 billion.

The company said it has made payments totaling $207 million to settle individual claims for damages from the spill along the southern coast of the United States. To date, almost 116,000 claims have been submitted and more than 67,500 payments have been made, totaling $207 million.

It will take months, or possibly years for the Gulf to recover, though cleanup efforts continued and improvements in the water could be seen in the days since the oil stopped flowing. Somewhere between 94 million and 184 million gallons have spilled into the Gulf, according to government estimates.

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