BP will pay $4.5 billion to the US government as compensation for the 2010 Deepwater Horizon oil spill.
The London-based oil giant pled guilty to 11 felony counts relating to the deaths of 11 men who were killed in the explosion in the Gulf of Mexico. BP also pled guilty to obstructing Congress, another felony, and two employees will be charged with manslaughter. The payout sets a new record in criminal fines.
BP has already paid $7.8 billion in compensation to people who were harmed by the oil spill.
Deepwater drilling resumed in March after a year-long ban. Meanwhile Gulf fishermen are still discovering mutated sealife post-BP spill, including eyeless shrimp and shrimp with tumors and lesions.
@woodtick57 - well now that was embarrassing. I had a snarky comment and decided it was out of line so I didn't post it and posted nothing instead. Nothing was better. You'd think they would make these two buttons different colors.........oh. The are. Nevermind.
I say it is a fine, fine. Look we all use oil, we love oil in America. Screw ups are going to happen. Mistakes happen even in the most well intentioned things. It was a accident, they cleaned it up, and they are paying the fine. Next problem please.
@woodtick57 yea I understand and loss of life is a sad reality of business practises sometimes. But since no real dollar figure can be put on a life, then I was assuming 4.5 billion would cover fines, and give survivors something
@woodtick57 see, I get all that. So it wasn't an accident? Because some did not follow procedure? That is still an accident unless you think the meant to spill oil and for people to die. Because I am sure that was not their intent. Now was it neglectful? Absolutely. Well if everyone followed procedure, all the time, and made no wrong moves or choices, then there would be no accidents. Okay I agree with that, and what now? I wasn't making light of what happened at all. Just saying I figure they paid fine, they cleaned up, and I assume they paid out any law suits. Headline says 4.5 billion is what BP will pay, so obviously we have a agreement between the those concerned. Thats good enough for me.
You ought to talk to some of the people in Louisiana whose livelihoods were destroyed by this oil spill. This was pure and simple greed on the part of BP ignoring safety rules and pushing the contractors to bend/ignore as many of the rules as possible to get the well online. The middle managers that made those calls should be jailed.
@Xenocracy There are good hard working Americans who have been shrimping in the Gulf for generations that have had their lives destroyed by this disaster. Most of these people are probably republicans. The disaster in the gulf has devastated entire communities in the region and you make a joke about it. To joke about something like this is pathetic. I'd go further but if I did the moderators would remove this post.
It's not really enough - no one seems to be going to jail, for example.
But what really irritates me is the way BP, after the most destructive spill in history caused in large part by its own negligence, had the brass to deduct clean up costs from its corporate income tax, thus offsetting those costs to the American taxpayer. http://goo.gl/HeGQX
@woodtick57 Think It Would Last A Little Longer Than That..Rough Estimates Are That Americans Spend Over $1oo Million On Gas Each Day, Over $300 Million Back Into Our Pockets Could By A lot Of Beans!! Plus,,We Aren't The Bad Guys When It Come's To Using Gas.. http://www.huffingtonpost.com/2012/03/04/gas-...
If the comment that BP makes 25 billion a year in profit is accurate then I think a combined fine and payout of 11.6 billion is too little. They should have been hit with at least two years worth of profits to get them to actually think safety is important. At least to their bottom line.