by Richard T. Stuebi
The oil spill in the Gulf continues to astound. It’s now reported that BP (NYSE: BP) has spent $350 million so far on clean-up, and that the total tab will run $2-14 billion.
Maybe BP can make up the billions in lost shareholder value via other dubious means: Bookmaker.com is running odds on whether the containment strategy being attempted will decrease or increase spill rates.
In this ecological disaster, a lot of dollars and not much sense is involved.
Richard T. Stuebi is a founding principal of NorTech Energy Enterprise, the advanced energy initiative at NorTech, where he is on loan from The Cleveland Foundation as its Fellow of Energy and Environmental Advancement. He is also a Managing Director in charge of cleantech investment activities at Early Stage Partners, a Cleveland-based venture capital firm.