BP

[billy]

what i don't get is,they announced it cost them 1 billion up to now and if i'm correct they made 16 billion profit last year,so what's the problem?

June 2 (Bloomberg) -- BP Plc’s failure to stop an oil leak from spewing millions of gallons of crude into the Gulf of Mexico may leave the biggest oil and gas producer in the U.S. in a fight to stay independent.

BP shares have plunged 36 percent since the Deepwater Horizon drilling rig leased by the company exploded on April 20, wiping more than 40 billion pounds ($58 billion) from the company’s value. That may make BP cheap enough to attract acquisition interest, investors said.

source;

to date that 58 billion fall in shares is now 70 billion.

the cost of the clean up is a pittance to them, if there shares fall to far they become insolvent and have to face bankruptcy before that they would be sold and whoever bought it wouldn't be liable for the cost of the damages. though i suspect if someone bought them out they, would gladly pay the clean up bill.