BP gets slick in trying to undermine gulf oil spill settlement

[jsr]

http://www.latimes.com/business/la-fi-hiltzik-20140221,0,1294413.column

BP gets slick in trying to undermine gulf oil spill settlement
In full-page ads, BP ridicules payouts it believes are undeserved, including $8 million to famed chef Emeril Lagasse and $173,000 to an escort service.
By Michael Hiltzik
February 23, 2014, 5:00 a.m.

It would be perfectly proper for BP, the giant British oil company, to feel a sense of corporate remorse.

After all, the firm was responsible for the 2010 Gulf of Mexico oil spill disaster, the Deepwater Horizon oil rig explosion and well blowout that took 11 lives and created "immense environmental damage" in and around the gulf. (Those words were uttered by a Department of Justice official just over a year ago, when BP pleaded guilty to a dozen felony charges and agreed to pay $4 billion in penalties and fines.)

"Buyer's remorse," however? That's a different story.

But it's what BP is displaying these days toward a class-action settlement it reached in 2012, covering individuals and businesses that claimed economic losses from the oil spill — hotels and restaurants, seafood businesses, property owners and many others. The settlement aimed to streamline the claims process, so these victims wouldn't each have to bring their cases before a judge and jury. The company "wanted to do the right thing," it says.

[madfloridian]

1. That is such a shame they get to do that.

I am impressed with Hiltzik's articles.

[MMcGuire]

2. BP's only remorse comes from damage to their image

(pshh btw with 40% UK shareholders, and 39% US shareholders) BP is almost American.

Still they should be held responsible not only to the damage of livelihoods but the environmental damage.

[jsr]

3. Canada Boosts Offshore Oil Spill Liability, But The U.S. Still Caps Deepwater Horizon Costs At 0.2%

http://thinkprogress.org/climate/2013/06/21/2188231/canada-boosts-offshore-oil-spill-liability-but-the-us-still-caps-deepwater-horizon-costs-at-02-percent/

The Canadian government yesterday announced it was raising the limit of liability for offshore drilling in the Atlantic and Arctic Oceans to $1 billion. The five biggest oil companies made $118 billion in profits in 2012, which means collectively, they could pay the maximum legal liability for four offshore oil spills every day for a year and still have cash left over.

Congress has so far failed to act to raise the liability cap which remains just $75 million — or less than two tenths of one percent of the $42 billion BP has set aside to cover fines and costs incurred in the Gulf spill. In fact, Congress has taken no action whatsoever to change the laws governing offshore oil and gas permitting, exploration, or production.

[MMcGuire]

4. Even Canada has it too low!

What do you think? BPs 39% US shareholders have been the reason, for not raising the cap?

[a kennedy]

5. I've thrown stuff at my TV when a "hip hip hooray USA" advertisement comes on from BP

during all the olympic coverage there's BP hailing all the athletes with red, white, and blue blah, blah, blah. I just throw stuff and yell PAY UP for all the damage to the gulf. Gawd I hate them.....