User Tag List

+ Reply to Thread
Results 1 to 4 of 4

Thread: BP ~ largest settlment ever and 2 BP employees charged with manslaughter

  1. #1
    Points: 32,076, Level: 43
    Level completed: 74%, Points required for next Level: 374
    Overall activity: 23.0%
    Achievements:
    1 year registeredOverdrive25000 Experience Points
    exotix's Avatar Senior Member
    Karma
    5569
    Join Date
    Oct 2012
    Location
    Starz Fall on Alabama !
    Posts
    5,660
    Points
    32,076
    Level
    43
    Thanks Given
    257
    Thanked 418x in 364 Posts
    Mentioned
    106 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    62

    BP ~ largest settlment ever and 2 BP employees charged with manslaughter

    *Breaking*

    Oil giant BP will shell out even more dough to pay for the Deepwater Horizon debacle, and two of its employees are being hit with manslaughter charges.

    http://www.nydailynews.com/news/nati...icle-1.1202447

    The company agreed to pay a criminal penalty of $4.5 billion — the largest in U.S. history — for the Gulf of Mexico oil spill, a person familiar with the deal said Thursday.

    The company, which owned the well that unleashed a seemingly endless stream of bubbling crude into the water, will cough up the payments over the course of six years.

    The penalty comes on top of a $20 billion fund BP established for claims relating to the environmental catastrophe that began on April 20, 2010.

    A pair of BP employees will also face manslaughter counts related to the death of 11 people aboard the Deepwater Horizon oil rig 50 miles off of the Louisiana coast, according to the source, who spoke to The Associated Press.

    They were not identified.

    BP told Reuters it would plead guilty to 11 felony counts of misconduct or neglect relating to the death of 11 workers, one misdemeanor count under the Clean Water
    Act, one misdemeanor count under the Migratory Bird Treaty Act, and one felony count of obstruction of Congress.

    An estimated 206 million gallons of crude oil spewed into the Gulf from the well, contaminating tidal estuaries and beaches, killing wildlife and shutting down commercial fishing.



  2. The Following User Says Thank You to exotix For This Useful Post:

    waltky (11-15-2012)

  3. #2
    Original Ranter
    Points: 83,174, Level: 70
    Level completed: 31%, Points required for next Level: 1,676
    Overall activity: 7.0%
    Achievements:
    Social1 year registeredTagger Second Class50000 Experience PointsYour first Group
    Conley's Avatar Senior Member
    Karma
    7385
    Join Date
    Jun 2011
    Posts
    22,475
    Points
    83,174
    Level
    70
    Thanks Given
    4,582
    Thanked 2,491x in 2,002 Posts
    Mentioned
    224 Post(s)
    Tagged
    1 Thread(s)
    Rep Power
    98
    Good. They F'd up and should be held accountable.

  4. The Following User Says Thank You to Conley For This Useful Post:

    GrassrootsConservative (11-15-2012)

  5. #3
    Points: 1,724, Level: 9
    Level completed: 58%, Points required for next Level: 126
    Overall activity: 52.0%
    Achievements:
    7 days registered1000 Experience Points
    waltky's Avatar Senior Member
    Karma
    355
    Join Date
    Oct 2012
    Posts
    352
    Points
    1,724
    Level
    9
    Thanks Given
    204
    Thanked 46x in 40 Posts
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Rep Power
    5

    Thumbs up

    Sweet deal, less than one quarter's profits - look for gas prices to go up...

    BP agrees to pay $4.5B; 3 employees charged
    Nov 15,`12 - -- A day of reckoning arrived for BP on Thursday as the oil giant agreed to plead guilty to a raft of charges in the deadly Gulf of Mexico spill and pay a record $4.5 billion, including the biggest criminal fine in U.S. history. Three BP employees were also charged, two of them with manslaughter.
    The settlement with the federal government came 2 1/2 years after the fiery drilling-rig explosion that killed 11 workers and set off the nation's largest offshore oil spill. In announcing the deal, Assistant Attorney General Lanny Breuer said the tragedy "resulted from BP's culture of privileging profit over prudence." BP will plead guilty to charges involving the 11 deaths and lying to Congress about how much oil was spewing from the blown-out well. "We believe this resolution is in the best interest of BP and its shareholders," said Carl-Henric Svanberg, BP chairman. "It removes two significant legal risks and allows us to vigorously defend the company against the remaining civil claims."

    The settlement appears to be easily affordable for BP, which made a record $25.8 billion in profits last year. And it will have five years to pay. But the oil giant still faces several billion dollars in additional claims for damage to people's livelihoods and the environment. Separately, BP rig workers Robert Kaluza and Donald Vidrine were indicted on federal charges of manslaughter and involuntary manslaughter, accused of repeatedly disregarding abnormal high-pressure readings that should have been glaring indications of trouble just before the blowout. In addition, David Rainey, BP's former vice president of exploration for the Gulf of Mexico, was charged with obstruction of Congress and making false statements. Prosecutors said he withheld information that more oil was gushing from the well than he let on.

    Rainey's lawyers said he did "absolutely nothing wrong." And attorneys for the two rig workers accused the Justice Department of making scapegoats out of them. Both men are still with BP. "Bob was not an executive or high-level BP official. He was a dedicated rig worker who mourns his fallen co-workers every day," Kaluza attorneys Shaun Clarke and David Gerger said in a statement. "No one should take any satisfaction in this indictment of an innocent man. This is not justice."

    MORE
    See also:

    BP gets record US criminal fine over Deepwater disaster
    15 November 2012 - The Deepwater Horizon disaster caused one of the worst oil spills in history
    BP has received the biggest criminal fine in US history as part of a $4.5bn (2.8bn) settlement related to the fatal 2010 Deepwater Horizon disaster. Two BP workers have been indicted on manslaughter charges and an ex-manager charged with misleading Congress. The Department of Justice (DoJ) said BP must hand over $4bn. The sum includes a $1.26bn fine as well as payments to wildlife and science organisations.

    As part of the agreement, BP will also plead guilty to 14 criminal charges. The company apologised for its role and said it regretted the loss of life. BP will pay an additional $525m to the Securities and Exchange Commission over a period of three years, the firm said.

    The resolution with the DoJ includes a record criminal fine of $1.26bn, as well as $2.4bn to be paid to the National Fish and Wildlife Foundation and $350m to be paid to the National Academy of Sciences, over a period of five years. DoJ Attorney General Eric Holder said its resolution "stands as a testament to the hard work of countless investigators, attorneys, support staff members, and other personnel".

    More http://www.bbc.co.uk/news/business-20336898
    Last edited by waltky; 11-15-2012 at 08:16 PM.

  6. #4
    Original Ranter
    Points: 118,825, Level: 83
    Level completed: 73%, Points required for next Level: 825
    Overall activity: 99.7%
    Achievements:
    SocialRecommendation Second Class1 year registeredOverdrive50000 Experience Points
    Mister D's Avatar Unenlightened
    Karma
    17196
    Join Date
    Jun 2011
    Posts
    36,868
    Points
    118,825
    Level
    83
    Thanks Given
    4,277
    Thanked 5,282x in 4,343 Posts
    Mentioned
    203 Post(s)
    Tagged
    1 Thread(s)
    Rep Power
    210
    Granny say dem gas prices gonna go up...
    Whoever criticizes capitalism, while approving immigration, whose working class is its first victim, had better shut up. Whoever criticizes immigration, while remaining silent about capitalism, should do the same.


    ~Alain de Benoist


+ Reply to Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts


Linksgrower Forum Topsite Critical Acclaim
Top Ron Paul Sites - Ranking the best Ron Paul related Freedom and Liberty Websites
Single Sign On provided by vBSSO