President Obama warns that the BP oil will have an impact on the US economy, and BP shareholders have seen their investment slip by more than 30% since the crisis began, so it's interesting to see who is actually making big profits out of the oil spill.
The Big Money in Slate reveals that there is no shortage of companies rushing in to make money out of the clean up. These include Procter&Gamble which is providing its dish washing soap Dawn to clean the endangered wildlife, local motels, hotels and living units that are reporting brisk business from workers and volunteers who have headed for the Gulf Coast, companies that make robots being sent in to fix the damaged well heads, companies like Lakeland Industries which make clean up gear and polypropylene coveralls, pantyhose manufacturers and of course lawyers now lining up the tsunami of litigation.
Indeed, lawyers might be the biggest winners out of this disaster with BP now facing a legal threat over the safety at all its oil rigs and lawyers warning that it will take many hours, and for that we assume at hefty fees, for the discovery process of combing through data that can go back for decades.
Many are going to make money out of the spill but the falllout from BP is going to be a bonanza for lawyers.
Drill less baby, drill less
http://www.youtube.com/watch?v=70RZzxR8pqU