Quote:
Originally Posted by roachboy
and there is an interesting question about insurance and who is going to end up paying and for what that follows from the manoevering around narrative (a process in which this letter is but one salvo).
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Regardless of what the loss actually is, there isn't enough insurance in the marketplace to cover it, especially when we're discussing essentially 4 or 5 insurance buyers - BP, Transocean, Halliburton, whoever made the blowout preventer and (possibly) whoever made the part that they end up blaming (ranked from largest purchased limits to lowest on my guesses). From what I've seen in the trade journals, there's about $1B in limits available (give or take a few million) at this point. Since we're already over that according to BP, it seems like a moot point to me.