• As of December 2009, what contingent liabilities did BP PLC recognize for its North American Operation? Provide detail on how these liabilities were created, the estimated amount of these contingencies, the time frame in which the liability may exist and/or be resolved, and other relevant information.
• From analyzing BP PLC's annual report, what are this company's biggest concerns in terms of exposure?
• What ethical concerns surround the determination of contingent liabilities for a publicly traded company such as BP PLC?