Archive for the ‘Gulf Oil Spill’ Category

How much should BP pay American taxpayers for the Gulf oil spill in 2010?

Thursday, February 9th, 2012

After BP spilled 4.1 million barrels of oil into the Gulf of Mexico in 2010, the U.S. government cited BP with multiple violations of the Clean Water Act.  At this time, it is being reported that negotiations between U.S. officials and BP may be coming to a close soon.  The amount of a potential settlement is unknown, but the government has requested BP pay around $4,300 per barrel in fines, which amounts to more than 17 billion dollars.  Here is an article from Bloomberg News.

Oil Industry Insider Publicly Calls Out BP for Choosing to Not Follow Safe Practices

Tuesday, May 18th, 2010

Last night, NBC Nightly News reported on the unsafe practices that BP chose to follow prior to the catastrophic explosion and resulting oil spill.  On the show, Ken Abbott, a veteran oil energy manager, stated: “What I realized about BP is they were not following normal accepted safe engineering practice.”  This accusation is alarming and, if such blatant disregard for normal safety practices is proven, BP could end up owing billions in damages for the carnage caused in the Gulf of Mexico and surrounding communities.