# By My Calculations, BP Still Owes \$47.6 Billion [Guilty Planet]

Let's briefly compare the Exxon and BP spills.

Exxon oil estimated to have spilled into Prince William Sound: 11 million gallons
BP oil estimated to have spilled into the Gulf of Mexico: 172 million gallons

So when we talk about how BP's Oil Spill Bill Could Dwarf Exxon's Valdez Tab we should remember that BP's oil spill also dwarfed Exxon's. And is the assertion that the tab is bigger even true? Well, in nominal and real terms, yes.

Cost of the Exxon clean up: \$2 billion (1989 dollars) or \$3.58 billion (2010 dollars)*
Cost of the BP clean up: \$6.1 billion (2010 dollars)

But if we standardize for size of the spill, BP's tab is far too low. Given that the BP spill is more than 15 times larger than the Exxon spill, we should also assume they should spend 15 times more on cleanup than Exxon did, or around \$53.7 billion dollars -- \$47.6 billion more than BP has spent.

Tags

### More like this

##### By My Calculations, BP Still Owes \$47.6 Billion
Let's briefly compare the Exxon and BP spills. Exxon oil estimated to have spilled into Prince William Sound: 11 million gallons BP oil estimated to have spilled into the Gulf of Mexico: 172 million gallons So when we talk about how BP's Oil Spill Bill Could Dwarf Exxon's Valdez Tab we should…
##### The Difference between the Exxon and BP Spills? Dollars and Photoshop...
History repeats itself. Boy does it. This was never more evident than after I finished reading Charles Wohlforth's The Fate of Nature (2010), which has a few ominous chapters dedicated to the Exxon Valdez oil spill. Wohlforth was a journalist who covered the spill in the field and after reading…
##### Reflections on the Gulf Oil Spill - Conversations With My Grandpa
Oil supplies the United States with approximately 40% of its energy needs. Billions upon billions of gallons are pumped out of our wells, brought in from other countries, and shipped around to refineries all over the states. 1.3 million gallons of petroleum are spilled into U.S. waters from vessels…
##### Why We Should Worry: "Sticks in the Mind: Alaska Oil Spill Project, 1989-2010"
Lingering 1989 Exxon Valdez oil in beach sediments in Prince William Sound, Alaska I clearly remember the announcement of the oil spill from the Exxon Valdez in 1989. The event was so upsetting that I refused to purchase gas from Exxon for decades. Now, twenty one years later, an exhibit by…