BP Destroys The Gulf, Americans Pay The Bill

April 11, 2016

Written by Thy
Edited by HV

BP will be able to deduct 75% of its $20 billion fine for the Deepwater Horizon oil rig incident that cost the lives of 11 workers from its U.S. tax return.

According to Forbes, the present tax code allows businesses to deduct damages and pass on the cost to the taxpayers. And that enables the company to also deduct its $32 billion cleanup cost after the spill, passing on addition $10 billion to the taxpayers to take care of.

This has caused lots of the anger among the crowd regarding the morality of the situation. We have not known yet the real economic cost of this disaster, but what BP has to pay for the biggest oil spill in the U.S. history seems to be an easy escape.

UK - BP 2