| Nov 07 |
Archive for the 'oil spill lawsuit' CategoryFeds OK extending almost 1,400 offshore drilling leasesThe federal government has approved extending almost 1,400 offshore drilling releases in an attempt to offset work stoppages or delays sparked by the 2010 Deepwater Horizon oil rig disaster. That event claimed 11 offshore workers’ live and spewed the worst oil spill in America’s history into the Gulf of Mexico. (more…)
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| Oct 26 |
Archive for the 'oil spill lawsuit' CategoryBP says ‘spirit coming back,’ but Deepwater remains a deep stainBP is crowing now that the feds have said it can drill again in the Gulf of Mexico. “You can feel the spirit coming back,” says CEO Bob Dudley.
Of course, while banned from drilling after the April 2010 Deepwater Horizon disaster, BP had kept some Gulf wells active anyway, using loopholes and surrogate drillers. But now it has the all-clear to drill seven new wells on its own. Plus, profits are up. So its “spirit is coming back.” (more…) |
| Oct 13 |
Archive for the 'oil spill lawsuit' CategoryFeds fine 3 companies for Deepwater Horizon catastrophe The three companies involved in last year’s catastrophic Deepwater Horizon offshore oil rig explosion, fire and oil spill all have been fined by the federal government for offshore drilling rule violations.
Federal fines could total as much as $45.7 million for BP, Halliburton and Houston-based Transocean. The move was made by the Bureau of Safety and Environmental Enforcement, an arm of the Interior Department. Its investigation along with that of the Coast Guard found “violation of numerous federal regulations designed to protect the integrity of offshore operations,” according to Michael Bromwich, bureau director. (more…) |
| Jun 16 |
Archive for the 'oil spill lawsuit' CategoryBP exec cites “small people” as victims of BP oil spill disaster
In May, while millions of gallons of oil gushed into the Gulf, BP CEO Tony Hayward told a British newspaper that he expected Americans’ claims for oil spill damages via lawsuits to be “illegitimate.” “This is America – come on,” Hayward said. “We’re going to have lots of illegitimate claims. We all know that.” |
BP executives not only lead a company whose wanton disregard of caution led to April 20′s Gulf of Mexico oil spill — the worst environmental disaster in America’s history — but also betray an acute case of foot-in-mouth disease.| Jun 15 |
Archive for the 'oil spill lawsuit' CategoryBP has trillions in assets to pay billions in oil spill lawsuit claims
But BP, formerly British Petroleum, has the means to foot that bill. The world’s third-largest energy giant had net profits of more than $10 billion combined in the last quarter of 2009 and the first quarter of 2010. In fact, BP has generated over $100 billion in profits, after expenses, in the last five years. Just last year, BP had revenues of almost $250 billion, with $16.8 billion in profits. BP also owns huge oil reserves which could be converted into cash by selling them to other energy companies. How huge? The oil it owns that’s still in the ground reportedly is worth $13.5 trillion at today’s prices. |
As the cost of BP’s Gulf of Mexico oil spill grows, many of its victims, from failing businesses to fishermen and their families, may wonder if they can be compensated for their losses. After all, the bill already is in the billions, with estimates ranging from $37 billion to $70 billion.