BP (NYSE:BP) Has Already Paid Alabama $240 Million

While BP (NYSE:BP) does not normally comment on individual legal claims against them. The company wanted to make sure that the public knows how much money they have already paid out to Alabama for oil spill recovery costs.

The company says they have already paid out $240 million to mitigate the impact in Alabama. The amount does not include costs directly related to the spill, such as the Unified command response, skimmers, boom, and removal operations.

BP spokeswoman, Dawn Patience stated that the amount does include $87 million that was paid to out of work fisherman to serve in spill response rolls. Another $81 million has went towards claims already paid out. While $50 million went to the state and $22 million to tourist grants.

Patience said that the company recently sent out almost $8,000 letters to people who had filed claims with the company but remained outstanding, most had no documentation. The recipients of the letters were invited to workshops held last week, only about 300 people attended.

Whistle Blower: BP (NYSE:BP) Deliberately Sinks Oil With Corexit

While talk has died down on BP's (NYSE:BP) massive use of Corexit, and the company deliberately ignoring the EPA's orders to find a different dispersant. A whistle blower will be testifying in front of a Senate investigative panel this week. He is expected to reveal the full extent of BP's cover up and prove what many have suspected all along.

Fred McCallister will be testifying on Thursday of this week. He will be telling of BP's deliberate sinking of oil through the extensive use of the toxic dispersant Corexit. The purpose, to hide the amount of the oil spilled before it can be collected to prevent the fines that BP would incur.

McCallister's statements will include answers to why BP has continually refused help from foreign skimmers. He said that the company feared that the skimmers would have the capability to give the actual count of gallons collected. That information turned over to the U.S. Government, having the information on spill rate financial penalties, would cause BP to receive the accurate fines according to the oil spilled.

"BP is in control of this situation and they are doing what's in the best interests of BP and their shareholders," said McCallister.

Oil Funds, Oil Options: Oil Companies Falling Short Exxon (NYSE:XOM), Shell (LSE:RDSA), Chevron (NYSE:CVX), ConocoPhillips (NYSE:COP), BP (NYSE:BP)

Edward Markey, a Democrat from Massachusetts criticized BP (NYSE:BP), Exxon Mobil (NYSE:XOM), Shell (LSE:RDSA), Chevron (NYSE:CVX), and Conoco Phillips (NYSE:COP) for not funding any new response and safety tools.

The tools being used in the BP oil cleanup in the Gulf of Mexico are pretty much the same tools that were used in the Exxon Valdez oil cleanup effort. Skimmers to collect the oil, booms to contain it, and the main weapon being used chemical dispersant's. Markey is proposing a bill that will broden oil options by using oil funds to the tune of $50 million being used to develop deep water drilling, and put it towards funding research for better oil spill clean up tools as well as new oil spill prevention methods.

Markey said, "the oil companies have been lying when they said they had the capacity to handle an emergency like the Deepwater Horizon spill. We can't afford to get stuck again without the tools to respond to a spill like the one we're seeing in the Gulf. It is clear that the oil companies have not created new solutions to keep their new drilling technologies safe."

BP (NYSE:BP) UPDATE: Fuel Spill containment

A group of reporters were able to tour the BP (NYSE:BP) oil rig on Saturday and see how the fuel spill containment was progressing. They flew along the Mississippi River Delta above the wetlands. They saw the ineffective boom floating as well as the skimmers. About 40 miles off the coast, they reach their destination which has a 200 foot derrick.

Wendell Guidry, the Transocean drilling superintendent that was on the rig said," its always, always on our mind." Work continues to press on around the clock. There are eight thrusters in place that keep the rig positioned correctly over the well. In the distance another rig is visible, it is siphoning oil and gas from the well and burning it. It appears the flames are coming down like a shower. There are ships surrounding this rig, their purpose is to hose of the deck to keep the heat from building.

Thad Allen, Coast Guard Administrator said that the drilling and construction of the relief wells is still ahead of schedule. Of course there can always be delays. Like on Saturday, a set of tongs which are used to hold the casings in place broke.

BP is still maintaining their drilling of the relief well should be completed sometime in August, of course there are no guarantees. Currently, they are close to 11,000 feet below the sea floor.