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Does the $4.5-billion settlement go far enough?

L.A. Times 2012/11/15 17:49:00
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Oil company BP has agreed to plead guilty to misconduct and negligence charges and pay a record $4.5-billion fine in connection with the massive Gulf of Mexico oil spill, one of the nation’s worst environmental disasters.

In an announcement Thursday morning from its London headquarters, BP confirmed that it had reached an agreement with the U.S. Justice Department to resolve all federal criminal charges and all claims by the Securities and Exchange Commission against the company stemming from the 2010 Deepwater Horizon rig explosion, the subsequent oil spill and the response.

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Read More: http://www.latimes.com/news/nation/nationnow/la-na...

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  • Boilermaker 2012/11/15 21:26:41
    Yes
    Boilermaker
    +10
    When do the citizens of the Gulf region get to sue the 0bozo administration for MMS screw-ups, not having the required equipment at the ready, thwarting all efforts to keep oil from coming ashore, refusing help from foreign nations and capsizing DeepWater Horizon on purpose?

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  • kraftymomma1979 2012/11/20 15:09:15
    Yes
    kraftymomma1979
    BP can make restitution in other ways. They can have employees perform activities in the community. They can advertise local businesses via their own high-dollar, high-exposure ads. Something was wrong in America that the dangerous situation wasn't caught by inspectors.
  • NightRyder 2012/11/20 05:59:18
    No
    NightRyder
    The money will be relayed by Obama and the people that should get it will not.
  • PattyM 2012/11/19 21:09:20 (edited)
    No
    PattyM
    No, I don't think that amount is enough to cover all the damage. In addition to the 'cleanup' costs there is the matter of the criminal charges and the matter of lost business in the many coastal towns.

    Also note that much of the cleanup involved chemicals that didn't eliminate the oil but caused it to sink to the bottom. Out of sight, out of mind. Right? The sea bottom is the home of many of the plants and small animals that serve as prey for larger ones. The small critters absorb the chemicals with their food. After several links of the food chain have each eaten smaller beasties the chemicals become concentrated in the fish and shrimp humans eat.

    I wouldn't recommend eating seafood from the gulf. Officially its all safe to eat but do you trust anything the government says?

    Besides to a company the size of BP the fines are chump change. It doesn't cause BP executives enough pain to make them take safety more seriously.
  • Jay Theyme PattyM 2012/11/20 07:03:36
    Jay Theyme
    You need to understand something about nature before making all kinds of crazy assertions and giving reports on marine biology here:
    - Oil is a 100% naturally occurring substance and the ocean is NATURALLY subject to gushing oil bursts that would DWARF BP's Man-made spill.
    OK.
    Now as for your made-up 'warning' about eating seafood that has 'absorbed chemicals':
    Oil is a naturally occurring substance (btw everything including your body and water is made of 'chemicals').
    Here is what oil is not: It is not 'nuclear waste' that somehow is 'radioactive' nor is it some crazy pharmaceutical mixture. It is not full of 'cancer germs'.
    Got it?
    Please don't post made-up things, fake 'science' and write crazy stories about 'chemicals' or some kind of imagined 'voodoo marine biology' just because it serves some anti-energy anti-USA Marxist-lite agenda. Thx
  • Grandpa 2012/11/19 15:21:46 (edited)
    Yes
    Grandpa
    Where were the goverment inspectors ??? and why was it OK'd to operate ??? Did they OK it ??/ When was it last inspected by either party ??? There are more at fault then BP and they like the dept who failed to inspect, and insure it's operation >> they too are at faultBp took to blame but where were our goverment inspectors ???? Like turning down HELP so the slip was worse >> Washington officals know it all and don't need help
  • Christopher Kirchen 2012/11/19 14:36:16
    Yes
    Christopher Kirchen
    Money doesn't change anything.
  • Grandpa Christo... 2012/11/19 15:24:32
    Grandpa
    DON"T SEE ANYONE TURNING IT DOWN >>>> And it would have been better used to insure it doesn't happen again and if it does we can contain it
  • srini 2012/11/19 10:43:02
    Yes
    srini
    Way more than enough -- since it was the maladministration's interference which worsened the spill!
  • Margaret Jacobson 2012/11/19 07:19:51
    No
    Margaret Jacobson
    Nothing from the Gulf of Mexico will e safe to eat in. More than50 years !! ?? I won't eat any fit !! The fishermen, homeowners and those who made their living from the gulf will see a thin dime of the money . If they do get something they will be taxed to death ad have nothing left anyway!! Somehow big business will get it all!!
  • CUDDLY BUT STILL CRABBY 2012/11/19 07:01:55
    Yes
    CUDDLY BUT STILL CRABBY
    Enough for what? Some more multi-billion dollar kickbacks to the Obama regime?
  • Rigo Rangel 2012/11/19 06:57:22
    No
    Rigo Rangel
    It is not fair, just for the simple reason that nobody that really was affected by the spill is going to see any money from this high amount of cash, not even a few thousands. The government is going to pocket that money built a bridge here and there cover some potholes and claim it's all gone.
  • Margare... Rigo Ra... 2012/11/19 07:15:40
    Margaret Jacobson
    No bridges no clean up !!! The government says the fish,shrimp etc......SWAM AWAY FROM ALL THST OIL ???? THE SEAFOOD IS SAFE TO EAT !!!!! THEY ARE SELLING IT THE GROCERY STORES IN MARYLAND !!!!!!! CRAZY !! DUH!! NO ONE SEEMS TO REMEMBER. THE OIL SPILL ????
  • TheBorg 2012/11/19 02:14:32
  • Erinite 2012/11/19 01:30:15
    No
    Erinite
    +1
    I live near the coast. Let me be honest and say that I didn't notice as much damage to local businesses as other residents have claimed. I did notice that there were fewer tourists. (the roads were a lot safer!) However, I don't live right by the water. There, it may have been truly bad.

    I am more concerned about the environment and the lives lost, while many people around me seem to care only about the money. It depresses me. No amount of money given to the government or residents is going to fix everything that really matters. We all just need to focus on moving on. Let's not dwell on it forever, like many people seem to want to do.
  • Deputy Chief 2012/11/18 23:42:35
    Yes
    Deputy Chief
    +1
    It is the attorneys that are raping the till anyway. This country is too litigious.
  • HatinOnHaters ;~} 2012/11/18 23:21:38
    Yes
    HatinOnHaters ;~}
    that's a lot of dough dude goes to show you how much money they pull in.
  • HatinOn... HatinOn... 2012/11/18 23:22:22
    HatinOnHaters ;~}
    good call dude
  • john 2012/11/18 22:47:46
    No
    john
    Don't know how much is needed to put this sort of thing back to how it should be...but shows how much money these companies have, but they will increase prices to get this money back..
  • C-ZAR™, Emperor of the PHÆT 2012/11/18 21:23:56
    No
    C-ZAR™, Emperor of the PHÆT
    for as much moneyas they earn,even that 4.5 Billion is chump change, they destroyed an ecosysyem damn near, they should pay a tad more
  • Temlakos~POTL~PWCM~JLA~☆ 2012/11/18 19:09:58
    Yes
    Temlakos~POTL~PWCM~JLA~☆
    Yes, it does. Especially since the government itself committed most of the screw-ups in that affair. Not to mention using it as an excuse to shut down even more oil production.
  • Zepland 2012/11/18 18:41:56
    Yes
    Zepland
    +1
    Everybody! Please! let's STOP!!!! suing the pants off each other for negligence. I'm not thinking of British Petroleum. I'm thinking of the American's they employ. Were are losing businesses every day. This is not the hour to bleed a company to death.
  • s2k 2012/11/18 17:46:31
    Yes
    s2k
    It's going to have to be
  • Wolf 2012/11/18 17:45:23
    Yes
    Wolf
    The extortion and coercion by the US Government has no limits...first they prevent foreign skimmers from preventing over 98% of the oil that reached the shore ...and now they want to fine BP for the damage...it was a basic accident ...there should be no fine...any fine should be put on the incompetence of the Government and all the Agencies that caused the excessive damage due to absolute incompetence and interference...
  • Runaway ✩ 2012/11/18 17:44:28
    No
    Runaway ✩
    Not by a long shot. Maybe, just maybe, that money pays for their criminal negligence, but that's hard to believe. It doesn't BEGIN TO TOUCH the damage done to the gulf, or to the livelihoods of Mexican and United States fishermen and tourist industries.

    Has Mexico taken BP to court yet? They certainly need to!

    I'm positively sick of BP anyway. The primary stockholders - the hereditary ultra-rich - who have controlled this company for almost a hundred years needs to be stripped of all their ill-gotten gains.

    Visit the Wikipedia, and take a look at Operation Ajax to get an idea of why I dislike this company so much.
  • Just me ♥ 2012/11/18 16:19:15
    No
    Just me ♥
    +1
    No, that's chump change for them. I say fine them more, make it hurt a little.
  • Ron in Oregon 2012/11/18 16:14:54
    Yes
    Ron in Oregon
    +1
    It will just be a payment to the most inefficient redistribution system, the federal government.
    It should have been paid directly to the municipalities along the gulf.
  • shadow76 2012/11/18 15:44:18
    Yes
    shadow76
    +1
    Too much. Much of damage was Owebummers lack of action. He just Hd TO FINSH GOLFING FIRST!
  • JOHNNY shadow76 2012/11/18 16:09:33
    JOHNNY
    +1
    Isn't that the damn truth ?
  • shadow76 JOHNNY 2012/11/25 11:56:04
    shadow76
    It is, he also rejected several offers of help and still did nothing but shut down all US drillng for political reasons!
  • thermoguy 2012/11/18 03:39:33
    No
    thermoguy
    +1
    You would think a 4.5 billion dollar fine would bankrupt a polluter and put them out of business. It goes to show gas prices are too high for them to have this much money to pay for a fine like this.
  • Frank 2012/11/18 01:04:34
    No
    Frank
    Probably not. Wonder how many dirty hands will be in the til for a piece of the billions, if it's like everything else there will be a lot.....
  • mennosdad 2012/11/18 01:02:42
    No
    mennosdad
    Seems like a slap on the hand. 4.5 billion? BP boosts 30 billion in profits annually. Let's say 100 billion a year. For a loss of 4.5%, Bad BP now don't do that again. Eleven Lives Cheapened.
  • Matt mennosdad 2012/11/18 07:26:08
    Matt
    they make 20 billion a year profits...and where does 100 billion figure come into it???

    they also lost 3 billion profit from lower production while oil rigs shut down, they are facing 21 billion for cleanup so total is closer to 30 billion all up in relation to oil rig incident - 1.5 X yearly profit....

    A kick in the guts certainly but they will go on making their multibillion profits each quarter still...
  • RTS 2012/11/18 00:21:45
    Yes
    RTS
    Overpaid...It wasn't even their fault. It was the white man's fault. Hurting mother nature and taking over valuable territory. How dare the white colored men do this to the land. A good native american company like BP has everyone in mind. It really make me sick how the white man has put the blame on BP.
  • mennosdad RTS 2012/11/18 01:05:50
    mennosdad
    Really, do you even think before you talk. BP, not American and really not native.
  • RTS mennosdad 2012/11/18 01:20:33
    RTS
    +1
    BP has always supported the healing of mother nature and for the white man to put the cause of all their problems on such a respectful company is appaling
  • Runaway ✩ RTS 2012/11/18 17:49:37
    Runaway ✩
    +2
    WTF? What do you think BP stands for? It's British Petroleum. You're one of the folks who should read up on 'Operation Ajax', and reflect on what that operation has cost the world. HINT: From start to finish, the entire operation benefitted BRITISH PETROLEUM. There are several name changes for the company during the period involved, but all through the story, it is the same people, the same company, the same engineers, the same investors.

    WTF does "native American" have to do with "British Petroleum"??????
  • RTS Runaway ✩ 2012/11/18 20:30:03
    RTS
    BP stands for "Bring Peace".

    Bring Peace back to the oceans. Bring peace back to the land. Bring peace to the people.
  • mennosdad RTS 2012/11/19 13:55:04
    mennosdad
    Your in trouble, Duct tape won't fix stupid.
  • RTS mennosdad 2012/11/20 01:47:56
    RTS
    Duct tape is material of evil.
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