World Business

With public anger off the charts over BP’s role in the Gulf of Mexico oil disaster, there’s not much sympathy about the financial burden the British oil company faces from future legal claims and cleanup costs. BP (BP) says it’s considering asset sales to help cover the cost of a $20 billion escrow fund that the White House demanded the oil major set up to handle U.S. claims. The company’s survival may also be in doubt if the financial hit from the Deepwater Horizon rig explosion approaches $100 billion, as some analysts suggest is possible. Read the rest of this entry »