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Cost of oil spill could exceed $14 billion

Cost of oil spill could exceed $14 billion 02 May 2010 The total bill related to the oil spill drifting toward Louisiana from a well operated by BP Plc in the Gulf of Mexico, could exceed $14 billion, analysts said. Since an explosion almost two weeks ago on the Deepwater Horizon rig, a disaster scenario has emerged with hundreds of thousands of gallons of crude oil spewing unchecked into the Gulf and moving inexorably northward to the coast. The responsibility for the cleanup operation lies with the owners of the well, led by 65 percent shareholder, London-based oil company BP Plc.