“Waterworld” star Kevin Costner’s dream machine has become reality.
BP yesterday began employing 32 of his centrifuges to separate oil from water in the Gulf.
“At its core, my dream, this machine, was designed . . . to give us a fighting chance to fight back the oil that’s got us by the throat,” Costner said.
Costner’s company, Ocean Therapy Solutions, signed a contract with BP to use the machines for the next 60 days. Financial details weren’t released.
Meanwhile, Louisiana officials warned that the cost of the Gulf oil spill could hit $100 billion, far more than previous estimates.
State Treasurer John Kennedy said the $20 billion escrow account promised by BP will be much too little to cover an expected avalanche of claims as well as the cleanup costs.
Banking sources said BP was seeking $1 billion in loans from each of seven banks — including HSBC, Barclays and Royal Bank of Scotland — in an effort to cover its skyrocketing Gulf bill.
But even if it can get the $7 billion, BP could still fall far short of what it apparently needs. On June 4, the energy giant reported that it had $5 billion in cash in addition to $10.5 billion in bank lines.
Kenneth Feinberg, the man picked by President Obama to oversee the $20 billion escrow fund, visited Mississippi and said initial spill-damage claims should be paid within 30 to 60 days.
Andy Soltis, Post Wires