BP spill settlement talks stall as U.S. demands $18 billion - paper

[dipsydoodle]

Source: Reuters

(Reuters) - Talks between BP and the U.S. government over a settlement for the 2010 oil spill have stalled because the U.S. is insisting that the British oil giant pay at least $18 billion (11.1 billion pounds), British newspaper the Sunday Times reported.

A settlement deal may not happen until early next year, the newspaper quoted sources close to the company as saying.

A settlement between $18 billion to $21 billion is near the level which BP would be required to pay should it be found grossly negligent under the Clean Water Act, said the paper.

Read more: http://uk.reuters.com/article/2012/09/30/uk-bp-spill-paper-idUKBRE88T08Y20120930

[joycejnr]

1. BP badly needs to be nationalized...

...and the $18 billion returned. People are still hurting because of their malfeasance and the bill should only increase as the months go by - no settlement this year, then make it $20 billion in 2013.

The harm that multi-corporations have done to this country is almost incalculable, and the Founding Fathers are spinning in their graves.

[dipsydoodle]

4. I guess you mean

BP North Amercian Products Inc.

The US has no means of nationalising BP Plc which is not a US company.

[hughee99]

2. A deal won't get done until after the election, and it will be for much less. n/t

[jonesgirl]

3. What?? You mean BP hasn't made enough money off our backs yet to pay up?

[shraby]

5. Didn't the Obama administration demand BP put 20 billion in an account similar to an

escrow account so when the bills for the spill came due, it would be there to use and they couldn't yell that they were unable to pay?
I remember him getting flak in congress for doing this.

Whoops, the requirement was that they put a percentage of the 20 billion in the fund each year until the amount was reached...just remembered more of it.

[dixiegrrrrl]

6. one result of the tanking economy...

US is now more eager to grab whatever billions it can.

But how many drilling permits has BP gotten from us since the spill?

[lib2DaBone]

7. Kick 100%

what you said...

[silvershadow]

12. I'd imagine more than in all of recorded history, or something close. That's why the R's are

screaming that he hasn't.

[They_Live]

16. Yes, and

how many subsidies?

[SunSeeker]

8. WTF? I thought we had a settlement agreement.

No more haggling. Pay up you deadbeats!

[DCKit]

15. Yeah, just like Exxon (Valdez) or Union Carbide (Bhopal).

Haggling, having the fines reduced (or eliminated)... that's just how this stuff works.

The more they delay, the less fresh the outrage.

[WHEN CRABS ROAR]

9. So, what's the price for the health of the world?

So soon we forget what a mess that was in the gulf and still is.

[rhett o rick]

10. All oil companies should be forced to put billions in escrow for just type of thing. nm

[marble falls]

11. Only $18 Billion? Too low. The government needs to take it over until it pays up - $40 Billion, min.

[silvershadow]

13. The original amount was $20B, so you can bet the actual damages are many times that amount.

I hope that $20B gets settled without precluding our options to obtain additional settlements as necessary until we are made whole.

[marble falls]

14. I hope it doesn't get settled until after the President gets re-elected.

[dixiegrrrrl]

18. I assume you mean the British Gov't?

Tis beyond my understanding why the USA lets a foreign country come here and destroy one of our most important resources.
If it had been an Iraqi or Iranian company, would it have been seen as a terrorist attack?

There was an explosion, fire, death, loss of jobs and resources, a devastating blow to the entire coastal South...and not a peep from our goverment.

[marble falls]

19. BP is a multinational, less than half its assets are in GB.

[locks]

17. BP ads

After making record profits BP spends millions on dishonest TV ads that run every day in prime time telling us fools how they have cleaned up the Gulf and things are better than before the spill. If you live there or can read you know that TV and cable cannot operate without the money poured in from big oil, big coal and big Pharma. Environmentalists will never have enough money to counter these lies on media but at least we can educate ourselves.

[bemildred]

20. Just kick their asses out and be done with it.

We are not obligated to allow them to do business here after that debacle. Seize all their assets and kick them out if they won't pay. 18 billion is peanuts for the harm they did. They can pay or shove off.

[lonestarnot]

21. Is that all? 18 billion?