BP (NYSE:BP) Argues Spill 50 Percent Lower than Estimates

BP (NYSE:BP) is fighting back against the numbers thrown out as to how much oil actually spilled into the Gulf of Mexico, saying it could be up to 50 percent less than estimated.

"BP has not offered its own numbers yet, but BP has told us that it thinks the government's numbers are too high," said Priya Aiyar, deputy chief counsel at the BP Deepwater Horizon Oil Spill and Offshore Drilling commission. It thinks the actual flow rate could be 20% to 50% lower."

It is interesting to note that the original amount of oil left in the ocean as reported by NOAA was confirmed as accurate after the big hoopla and accusations made against them.

Now it generates the question, obviously being exploited by BP, on whether or not the estimates on the oil flow were accurate as well; something BP obviously believes isn't.

Some are already saying this is an attempt by BP to bypass being labeled as having been grossly negligent in the event, which would be a difference of close to $16 billion, with $21 billion being the most they would pay, and $4.9 billion the least.

BP wrote the commission saying the "reservoir properties are more consistent with a lower daily flow rate during the duration of the flow."