Gulf coast oil spill

glatt · 05-03-2010, 04:30 PM

Why would this spill cause rate hikes? Maybe down the road if it results in greater safety regulations that cost more. But the oil lost is relatively small compared to the entire oil supply out there. It's huge in terms of an oil spill, but it's a drop in the bucket compared to what we use.

BP is going to lose a lot of money, and they may raise prices a little, but if they raise them too much, people will just shop elsewhere.

05-03-2010, 04:30 PM	#10
glatt ™ Join Date: Jul 2003 Location: Arlington, VA Posts: 27,717	Why would this spill cause rate hikes? Maybe down the road if it results in greater safety regulations that cost more. But the oil lost is relatively small compared to the entire oil supply out there. It's huge in terms of an oil spill, but it's a drop in the bucket compared to what we use. BP is going to lose a lot of money, and they may raise prices a little, but if they raise them too much, people will just shop elsewhere.

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