Monday, June 28, 2010
The cost of cutting corners
This is something they should be teaching in bean counter school.
BP said it had spent $300 million on its Gulf of Mexico oil spill response effort in the past three days, hitting the $100 million per day spend rate for the first time and bringing its total bill to $2.65 billion so far.While the exact cause of The Hayward Blowout is not yet known, many educated guesses have suggested that an attempt to save $1-2 Million has resulted in costs up to $100 Million+ a day. Try justifying that risk/reward at your next managers meeting.
The figures, which BP released in a statement today, include the cost of trying to cap the well, clean up the environmental damage caused by the leaking crude and pay compensation to those affected by the spill.
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