BP spill settlement talks stall as U.S. demands $18 billion - paper
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
(326 posts)...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
(42,239 posts)BP North Amercian Products Inc.
The US has no means of nationalising BP Plc which is not a US company.
hughee99
(16,113 posts)jonesgirl
(157 posts)shraby
(21,946 posts)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
(60,010 posts)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
(8,124 posts)what you said...
silvershadow
(10,336 posts)screaming that he hasn't.
They_Live
(3,239 posts)how many subsidies?
SunSeeker
(51,659 posts)No more haggling. Pay up you deadbeats!
DCKit
(18,541 posts)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
(3,813 posts)So soon we forget what a mess that was in the gulf and still is.
rhett o rick
(55,981 posts)marble falls
(57,162 posts)silvershadow
(10,336 posts)I hope that $20B gets settled without precluding our options to obtain additional settlements as necessary until we are made whole.
marble falls
(57,162 posts)dixiegrrrrl
(60,010 posts)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
(57,162 posts)locks
(2,012 posts)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
(90,061 posts)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.