BP fined a record $20.8 billion for oil spill disaster

Discussion in 'Environment & Conservation' started by Pax Aeon, Oct 10, 2015.

  1. Pax Aeon

    Pax Aeon Well-Known Member

    Joined:
    Mar 2, 2015
    Messages:
    7,291
    Likes Received:
    432
    Trophy Points:
    83
    Gender:
    Female
    `
    "BP PLC — the company responsible for the 2010 Deepwater Horizon oil spill — will pay a record $20.8 billion to the US government to cover damages caused by the disaster, the Department of Justice announced Monday. The deal finalizes an agreement between BP and the federal government that was first announced in July, in which BP said it would pay $18.7 billion. This final settlement updates that number and resolves all civil claims against BP set forth by the Department of Justice and five Gulf states. It is considered "the largest settlement with a single entity in American history," according to US Attorney General Loretta Lynch.

    Out of the money owed, BP will pay $5.5 billion to cover penalties incurred under the Clean Water Act, the US law that regulates water pollution. The five states affected by the spill — Alabama, Florida, Louisiana, Mississippi, and Texas — will also receive large sums to cover damages, as will 400 local government entities. Apart from this settlement, BP has spent a reported $28 billion on cleanup and compensation." - Source
    `
    *******************************​
    `
    Good news for environmentalists and those affected by the spill. It remains to to be seen however if Obama's DOJ doesn't eventually settle this for pennies on the dollar, which is their normal practice.
     
  2. Alucard

    Alucard New Member Past Donor

    Joined:
    Oct 1, 2015
    Messages:
    7,828
    Likes Received:
    41
    Trophy Points:
    0
    BP was given a colossal fine due to the company's negligence. BP learned its lesson the hard way.
     
  3. waltky

    waltky Well-Known Member

    Joined:
    Jan 26, 2009
    Messages:
    30,071
    Likes Received:
    1,204
    Trophy Points:
    113
    Gender:
    Male
    Uncle Ferd just uses sawdust when he wants to clean up an oil spill...
    [​IMG]
    Argonne Lab Breakthrough Could Revolutionize Oil Spill Cleanup
    March 31, 2017 — If you were a casual observer watching Argonne National Laboratory scientist Seth Darling work, it would be easy to miss the low-tech but groundbreaking invention he's concocted in his brightly lit workspace.
     
  4. Media_Truth

    Media_Truth Well-Known Member Donor

    Joined:
    Dec 31, 2016
    Messages:
    3,611
    Likes Received:
    1,424
    Trophy Points:
    113
    Last edited: Apr 26, 2017
  5. Latherty

    Latherty Well-Known Member

    Joined:
    Sep 16, 2008
    Messages:
    5,989
    Likes Received:
    489
    Trophy Points:
    83
    Oil spills are not quite as horrible as they are made out to be. The ecological effects can be catastrophic but largely temporary. Oil is organic and is both photo and biodegradable. There are natural seepages all the time.

    That is not to say long term effects are non-existant, nor that oil spills should not be avoided all costs.

    Just that they are far less of an environmental disaster than urban sprawl.
     
    Margot2 likes this.
  6. Cornergas

    Cornergas Active Member

    Joined:
    Apr 7, 2017
    Messages:
    363
    Likes Received:
    149
    Trophy Points:
    43
    Gender:
    Male
    20 Billion is chump change for BP...they take that out of petty cash...
     

Share This Page