Maritime Accident News

BP allocated less than .1% of its profits toward safety research

Out of its $58.3 billion in profit over the last three years, BP Plc spent $29 million on research for safer drilling. That comes out to 0.05% of its profits. Not only that, the company doesn’t even conduct its own research, choosing to outsource it to a number of so-called spill response specialty firms. One of those firms, Marine Spill Response Corp., admitted to MSNBC that it is not even a research and development company.

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