BP says profits from spilled oil will benefit wildlife fund

[Skjellyfetti]

BP has a message for the oil-soaked wildlife off the Gulf Coast: we're just here to protect you!

That's right, the British oil giant - which has scrambled since April to stop the flow of millions of gallons of oil into the Gulf of Mexico - announced Tuesday that it has created a new wildlife fund to benefit from any proceeds BP makes on the sale of captured oil from the spill.

"We've already launched the largest environmental response in history, and BP is committed to protecting the ecosystems and wildlife on the Gulf Coast," said Chief Executive Tony Hayward.

The announcement comes as BP finally seems to be making some progress - and potential profits - on containing the oil. The company announced earlier Tuesday that it had collected 14,800 barrels on Monday, up significantly from the day before, and front month futures for crude oil are at $72 a barrel. In addition to the oil being harnessed by the well containment systems, proceeds from oil recovered through skimming operations will also go into the fund.

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[houndawg]

How wonderful. I'm touched.

[bobbythekidd]

How exactly does BP profit from spilled oil? Or is this one of those misleading titles?

[∞∞∞]

How exactly does BP profit from spilled oil? Or is this one of those misleading titles?

They're still selling the oil they capture.

[bobbythekidd]

How exactly does BP profit from spilled oil? Or is this one of those misleading titles?

They're still selling the oil they capture.

So it's a tiny fraction of the oil they get in any hour of the day? That is going to be a small fund.