The ompact of oil spill could be bigger

The impact of oil spill is devastating to the environment but people are underestimating the economic impact. The cost to clean up could add up to 5 billion dollars.The impact on travel and fishing industries could be another 5 billion dollars. The shut down on several nearby off shore drills and the impact on oil shipping route will increase crude price by 2-5 dollars which will cost economy in U.S. another 50 billion dollars/year. If BP can not handle it or its insurance is not adequate, then it will have huge impact on U.K economy. BP has over 8 billion dollars in cash and 34 billion in debt. Its ability to generate 27 billion dollar cash flow is in jeopardy right now. I will not be surprised that its bond rating will be cut. Some hedge funds and banks will be hurt by all these.