US will press claim against BP

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The US government vowed to press ahead with its $18 billion legal action against BP, despite the oil company's $7.8 billion settlement with 110,000 Gulf of Mexico businesses and individuals over the Deepwater Horizon oil spill.



In a strongly worded statement, the US Department of Justice said the settlement ''by no means fully addresses its responsibility for the harms it has caused'' or meant that BP had paid for ''its violation of law''.


The Department of Justice, which is bringing a federal negligence case under the Clean Water Act that could cost as much as $18 billion, said it remains ''fully prepared'' to try the case.


BP, which denies gross negligence and also disputes the amount of oil that poured into the gulf, has set aside $3.5 billion to pay fines.



But the US government is also investigating whether there are criminal charges to be brought, amid claims BP was responsible for the millions of barrels of oil which flowed into the Gulf following an explosion on the Deepwater rig in April 2010 that killed 11 workers.



The news of the settlement with the plaintiffs was welcomed by BP's senior executives. The agreement ends one of four ''pillars'' of the trial in New Orleans, originally scheduled to begin last Monday, but postponed.



The other three pillars in are claims outstanding from the states of Louisiana and Alabama; counterclaims between BP and its former Deepwater partners, including Transocean; and civil claims under the Clean Water Act from the federal government. In addition, BP faces shareholder lawsuits in Houston. Shareholder reaction seemed positive:


''Overall this will probably be seen as good news, more the reduction in uncertainty than the number involved,'' said Robert Talbut, of Royal London Asset Management, which owns 0.37 per cent of BP's shares.



The settlement was made between BP and the Plaintiffs' Steering Committee, which represents 110,000 local businesses and individuals from the US gulf coast that claim to have lost out financially as a result of the spill. The settlement is preliminary and subject to final written agreement, which must be made within 45 days, and court approval.



The New Orleans trial has been indefinitely postponed pending clarity on the implications of the settlement.




http://m.smh.com.au/environment/con...-on-18-billion-spill-bill-20120304-1ub1v.html
 
The british violates deserve it, but that's was to far. They got tugged up for 20 billion already. This will be clawed back in higher gas prices.
 
The Dude said:
The british violates deserve it, but that's was to far. They got tugged up for 20 billion already. This will be clawed back in higher gas prices.
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Really? Won't consumers go to other suppliers? Unless you're saying the other oil companies will engage in price fixing...
 
God your a dumbass, all companies now have increased cost to pass on. What a fucktard. I'm surprised you can log on.
 
The Dude said:
God your a dumbass, all companies now have increased cost to pass on. What a fucktard. I'm surprised you can log on.
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You said "This will be clawed back in higher gas prices" and specified BP:

The Dude said:
The british violates deserve it, but that's was to far. They got tugged up for 20 billion already. This will be clawed back in higher gas prices.
Click to expand...

So BP's fines were absorbed by "all companies"?

BTW, do you know the difference between "your" and "you're"?
 
God you are dumb, I'm sorry I shouldn't pick on little yellow bus retards. Tell your mommy I said sorry.
Now ask your daddy to explain how a new group in each company working on engineering safety cost more!
 
The Dude said:
God you are dumb, I'm sorry I shouldn't pick on little yellow bus retards. Tell your mommy I said sorry. Now ask your daddy to explain how a new group in each company working on engineering safety cost more!
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So now you're saying the government should not demand that oil companies meet safety standards?
 
\\(())// said:
Really? Won't consumers go to other suppliers? Unless you're saying the other oil companies will engage in price fixing...
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He is saying that there will be a raft of new regulations and procedures coming from government whose costs will be inevitably be passed to the consumer.
 
Aoxomoxoa said:
Yep, 11 dead and a few oiled birds equals $20 billion plus. Bhopal, 15,000 dead and over 500,000 injured less than 1/2 billion in compensation. Piper Alpha resulted in 167 deaths and Occidental paid sweet fuck all in fines for negligence. :palm:
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"11 dead and a few oiled birds"?
 
This proves that the US government still has the will of the people at it's heart. Sue anyone for as much as you can get out of them.
 
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