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BP to pay $4.4 billion for Gulf Oil Spill


owedtojoy

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Feb 27, 2010
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It is the largest criminal damage payout in US history, over 3 times larger that the previous one ($1.3 billion from Pfizer).

The company will plead guilty to felonies relating to the deaths of 11 workers.

2 company employees are to face manslaughter charges.

The amount is less than the profits BP made last quarter ($5.5 billion).

An interesting point: If Romney had won the election would we be hearing about this now?

BP to pay record fine in Gulf oil spill; 2 to face manslaughter charges - CBS News

BP waived a $75 million cap on its liability for certain economic damage claims under the 1990 Oil Pollution Act, though it denied any gross negligence.
 

owedtojoy

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Too late for this guy ...

 

bob3367

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I think its more in total, I need to look up the figure later, once dinner is over...
 

Telemachus

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Who are they paying? the Fish dont have bank accounts.
 

owedtojoy

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Pat Gill

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I think what has shocked the oil world is not so much the record fine which is affordable for BP but what has them rattled are the criminal indictments.

The two highest-ranking BP executives supervising the drilling of the Macondo well in the Gulf of Mexico were charged Thursday with 22 counts of manslaughter stemming from the 2010 blowout and explosion that killed 11 workers.

US Attorney General Eric Holder announced the indictments against Robert Kaluza and Donald Vidrine, including 11 counts of seaman's manslaughter and 11 counts of involuntary manslaughter. The two men were also charged with a violation of the Clean Water Act.

The three criminal indictments were announced as part of a larger settlement with BP, which itself agreed to plead guilty to 11 charges of felony manslaughter for its role in the disaster.

https://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/8919446

The risks attached to deep water drilling in US waters just increased many times.
 

ticketyboo

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Oct 21, 2011
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5,045
It is the largest criminal damage payout in US history, over 3 times larger that the previous one ($1.3 billion from Pfizer).

The company will plead guilty to felonies relating to the deaths of 11 workers.

2 company employees are to face manslaughter charges.

The amount is less than the profits BP made last quarter ($5.5 billion).

An interesting point: If Romney had won the election would we be hearing about this now?

BP to pay record fine in Gulf oil spill; 2 to face manslaughter charges - CBS News
I have to say my ears ******************************ed up when I read this. When there was a related thread on the oil reserves waiting for us on the west coast, seemed to me there was a substantial number here who responded to the demands of others that we should be getting a far greater return in royalties, taxes, etc, by playing the poor mouth on behalf of the oil companies. The poor craturs with the cost of testing and drilling and exploration.... and then you hear sums like this being handed over without batting an eyelid.
Anybody changing their mind on this? Think we should play"hardball"?
Think I know what position Enda the Bender will take on this. The clue is in the hilarious nickname I just gave him.
 

bob3367

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Jan 11, 2007
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I have to say my ears ******************************ed up when I read this. When there was a related thread on the oil reserves waiting for us on the west coast, seemed to me there was a substantial number here who responded to the demands of others that we should be getting a far greater return in royalties, taxes, etc, by playing the poor mouth on behalf of the oil companies. The poor craturs with the cost of testing and drilling and exploration.... and then you hear sums like this being handed over without batting an eyelid.
Anybody changing their mind on this? Think we should play"hardball"?
Think I know what position Enda the Bender will take on this. The clue is in the hilarious nickname I just gave him.
These reserves that are waiting for us, where exactly are they.....typical uneducated claptrap.
 

ticketyboo

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I have to say my ears ******************************ed up when I read this. When there was a related thread on the oil reserves waiting for us on the west coast, seemed to me there was a substantial number here who responded to the demands of others that we should be getting a far greater return in royalties, taxes, etc, by playing the poor mouth on behalf of the oil companies. The poor craturs with the cost of testing and drilling and exploration.... and then you hear sums like this being handed over without batting an eyelid.
Anybody changing their mind on this? Think we should play"hardball"?
Think I know what position Enda the Bender will take on this. The clue is in the hilarious nickname I just gave him.
Hysterical - I just typed " my ears prícked up" and when I posted I got a line of asterisks over the word pr*cked.
It's not a dirty word!
 

ticketyboo

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These reserves that are waiting for us, where exactly are they.....typical uneducated claptrap.
I don't know why I'm bothering to respond to you because you're one of the biggest yobs on this site, but just once.... do you read anything? There have been articles on this in Ireland and abroad. There was a thread on it where people posted links to articles home and abroad.
"Typical uneducated claptrap". Yeah, that just about sums you up.
 

bob3367

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I don't know why I'm bothering to respond to you because you're one of the biggest yobs on this site, but just once.... do you read anything? There have been articles on this in Ireland and abroad. There was a thread on it where people posted links to articles home and abroad.
"Typical uneducated claptrap". Yeah, that just about sums you up.
You believe everything you read, you are an idiot.
 

ticketyboo

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Oct 21, 2011
Messages
5,045
You believe everything you read, you are an idiot.
What a complete and utter fúckwit you are. Oil companies have been involved in exploration off the west coast of Ireland for years and spent millions, but YOU decide that they don't exist. You stupidity knows no bounds.
 

NYCKY

Moderator
Joined
Apr 17, 2010
Messages
13,098
It is the largest criminal damage payout in US history, over 3 times larger that the previous one ($1.3 billion from Pfizer).

The company will plead guilty to felonies relating to the deaths of 11 workers.

2 company employees are to face manslaughter charges.

The amount is less than the profits BP made last quarter ($5.5 billion).

An interesting point: If Romney had won the election would we be hearing about this now?

BP to pay record fine in Gulf oil spill; 2 to face manslaughter charges - CBS News

Yes even if Romney had won, we would all still be hearing about this. The oil spill as we all know was two and a half years ago, the fines and penalties will have been worked out with the Justice Department over months and months.


Of course BP are not done yet, the DOJ are still pushing for "gross negligence" which could result in billions more in penalties. Also the civil suits will result in further billions and this is all on top of the expenses incurred thus far in the clean up.
 

Sync

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Aug 27, 2009
Messages
28,845
BBC News - BP found 'grossly negligent' in 2010 Gulf oil spill

Sooooooo screwed.

A US judge has ruled BP was "grossly negligent" in the lead-up to the 2010 Deepwater Horizon oil spill in the Gulf of Mexico.

The ruling could potentially cost BP billions more in compensation payments.

The New Orleans judge Carl Barbier also found BP subcontractors Transocean and Halliburton "negligent".

The 2010 oil spill was the worst in US history, and BP has set aside $43bn (£26bn) to cover fines, legal settlements, and clean-up costs.

BP said in a statement that it "strongly disagrees" with the ruling and that it would appeal to a higher court.

"The law is clear that proving gross negligence is a very high bar that was not met in this case," said the firm.
 

riven

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Oct 4, 2007
Messages
2,190
You believe everything you read, you are an idiot.
Jesus bob calm down. I read the same comment and am a constant poster reminding that such reserves do not exist easily and I did not see what you saw this in what was said.

In response to the op, people and companies are now becoming responsible for deaths. No longer can a company just pay an easy fine.
 
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Watcher2

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May 2, 2010
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34,165
Down about 6%.
Is that all? How much are they down since just before the disaster? In fairness, BP should not be in existence anymore. What happened was an utter disgrace and disaster. Multiple deaths, untold environmental damage, disruption and all down to negligence...gross negligence from the looks of it (I have no clue of the legal distinction between the two). I wonder what will happen to the others implicated like Haliburton.

Mere fines are no longer good enough. Executives and managers, PEOPLE responsible, need to go to jail from now on.
 

Amnesiac

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Oct 27, 2011
Messages
1,035
Is that all? How much are they down since just before the disaster? In fairness, BP should not be in existence anymore. What happened was an utter disgrace and disaster. Multiple deaths, untold environmental damage, disruption and all down to negligence...gross negligence from the looks of it (I have no clue of the legal distinction between the two). I wonder what will happen to the others implicated like Haliburton.

Mere fines are no longer good enough. Executives and managers, PEOPLE responsible, need to go to jail from now on.
Google Finance is your friend:
BP plc: LON:BP quotes & news - Google Finance
 

james5001

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Joined
Oct 27, 2009
Messages
11,503
[video=youtube;GrJlUVCe4VA]https://www.youtube.com/watch?v=GrJlUVCe4VA&feature=youtu.be[/video]

Disgraceful stuff.
 
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