bp oil spill government
BP Oil Spill, Government Failure; Obama, Biden, Economic Patterns Summer 2010
Oil prices rise due to the BP oil spill?
BP, as any other company can not raise prices above what the market price. Thus, BP is not unilaterally increase the price of oil. What probably happen is that the additional safety equipment is likely to be imposed by law and the more intrusive inspections that are likely to take place to reduce the possibility of the same thing happens again leads to additional costs for oil companies ALL. It means long-term oil more expensive, because having to pay. Security costs money. As time passes, the rest of the oil is extracted comes from the most hostile to the environment. This will lead to more frequent spills, such as the limits of the technology came several times. I doubt that the possession of the money in trust accounts will be considered. Major oil companies have enough money to pay for cleaning up spills recipes without having to carry a bundle of money in reserve.
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