Thursday, June 17, 2010

Gulf Coast to get billions...No dividends..

WASHINGTON (AP) — BP is going to pay $20 billion -- at the rate of $5 billion a year for four years -- to set up a fund to compensate victims of the Gulf of Mexico oil spill. The agreement was announced at the White House today after a meeting involving BP officials and top administration officials, including President Barack Obama.

WASHINGTON (AP) — To help pay for the impact of the Gulf of Mexico oil spill, BP is suspending its dividends to shareholders. In making that announcement outside the White House, BP's chairman offered an apology to the American people for what he called a "tragic accident" that "should have never happened."

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