BP's spill-recovery costs grow to $8B

But The New York Times reported Friday that BP has warned it may not be able to pay out all the damages if Congress passes legislation blocking it from receiving new offshore oil-and-gas leases or drilling permits. The House passed a bill in July containing a provision that would do just that.

“If we are unable to keep those fields going, that is going to have a substantial impact on our cash flow,” David Nagel, BP’s executive vice president for BP America, told the Times. He said that “makes it harder for us to fund things, fund these programs.”

Andrew Gowers, a BP spokesman, added: “We have committed to do a number of things that are not part of the formal agreement with the White House. We are not making a direct statement about anything we are committed to do. We are just expressing frustration that our commitments of good will have at least in some quarters been met with this kind of response.”

Cross-posted from E2-Wire.