The year-end news for BP is peaches. The company behind the worst environmental disaster in our nation's history will probably have to spend more than the $40 billion the Deepwater Horizon catastrophe was expected to cost -- but less than the $200 billion Wall Street expected. From AP:
BP will survive the worst oil spill in U.S. history for several key reasons: It has little debt; its global businesses are forecast to generate $26 billion next year in cash flow from operations; the environmental impact of the spill isn't as bad as feared; and the government seems unlikely to ban BP from Gulf drilling.
Back in September, BP sort of threatened not to pay for the cleanup if the government kept it from drilling new wells in the Gulf of Mexico.