BP oil spill: taxpayers face clean-up costs

Posted by Washington Post: Juliet Eilperin on July 27th, 2010
Guardian: BP is poised for fresh controversy after it emerged today that the UK Treasury will lose hundreds of millions of pounds as a result of the oil clean-up in the Gulf of Mexico. The cost of the clean-up has pushed BP into the red, meaning the oil company will be able to book a near-$10bn (£6.5bn) tax credit, slashing its tax bill in the US and Britain. The loss comes on top of a plunge in tax revenues after BP halted its dividend payouts to shareholders. The news will dismay ......

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