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BP to pay record fine for 2010 spill

Posted on November 15th, 2012 at 14:48 by John Sinteur in category: News -- Write a comment


BP Plc is expected to pay a record U.S. criminal penalty and plead guilty to criminal misconduct in the 2010 Deepwater Horizon disaster through a plea deal reached with the Department of Justice that may be announced as soon as Thursday, according to sources familiar with discussions.

  1. $4.5 billion, the NYT is reporting. (BP’s profits tend to be over $5 bln per quarter.)

  2. That is about the same as a person who makes $50,000 a year having to pay $1,700 a year for five years, for their negligence killing 11 people, destroying thousands of miles of wildlife habitat and the livelihood of millions.

    While this was a “record fine”, it is still a slap on the wrist, and politicians bought by corporations continue to want to limit how much courts can award in damages to citizens whose lives are destroyed by corporate greed.

  3. We rarely get much insight into the lives of the directors of the large firms that wreck such havoc on the environment, When Tony Hayward’s penny pinching on safety and operations brought his name to light after BP’s disaster in the Gulf I occasionally search to see what he’s up to now.
    Looks like he’s operating for another oil firm now in Iraq, moving Kurdish oil to Turkey, still making pots of money and with no apparent insight as to how much disdain the rest of the world regards him.
    Surely his mismanagement should have made him liable for the oil rig deaths.
    It reminded me of a recent study showing the professions psychopaths favor, apparently these include politicians, and CEO’s, (so no surprise there) You would think that if an ethical recruitment policy was operated by big companies it would filter out such individuals if only for it’s own preservation.

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