(Image source: Wikimedia Commons)
BY KERRY LEARY
ANCHOR MEGAN MURPHY
More than two years after the Gulf of Mexico oil spill, BP has agreed to pay the largest criminal penalty in United States history. CNBC reports:
“The company could pay a record fine topping $1.3 billion paid in 2009 for marketing fraud. (FLASH) bp shares, take a look at how they're responding, they're down 0.6%.”
Attorney General Eric Holder is reportedly expected to announce the deal this afternoon in New Orleans. WDSU has more about the case.
“2 BP employees to face manslaughter charges over the deaths of 11 workers in the deep water horizon.. the company will reportedly acknowledge some type of criminal behavior and is expected to pay a record fine.”
It’s also expected BP will plead guilty to obstruction for lying to Congress about how much oil was leaking out of the well. The Washington Post reports, other ramifications should be expected.
“it could affect BP’s ability to bid on contracts to supply fuel to the U.S. military. BP has been a major supplier of fuel to the Pentagon in the past … some individuals might be charged separately in connection with the alleged misreporting of the size of the spill and regarding events the night the Deepwater Horizon oil rig blew out, killing 11 people, sinking the rig and triggering the nearly 5 million barrel spill.”
The BBC reports up to four BP employees could face arrest as part of the settlement. But the New York Times reports, this is only the beginning of the settlements.
“Even if BP and the government settled on the criminal claims, BP would still be subject to other claims, including federal civil claims and claims for damages to natural resources. In particular, this settlement, if it is reached, does not include what is potentially the largest penalty: fines under the Clean Water Act. The potential fine for the spill under the Clean Water Act is $1,100 to $4,300 per barrel spilled. That means the fine could be as much as $21 billion...”
BP still faces private civil claims in New Orleans federal court, as well.
(Image source: Wikimedia Commons)
BY KERRY LEARY
ANCHOR MEGAN MURPHY
More than two years after the Gulf of Mexico oil spill, BP has agreed to pay the largest criminal penalty in United States history. CNBC reports:
“The company could pay a record fine topping $1.3 billion paid in 2009 for marketing fraud. (FLASH) bp shares, take a look at how they're responding, they're down 0.6%.”
Attorney General Eric Holder is reportedly expected to announce the deal this afternoon in New Orleans. WDSU has more about the case.
“2 BP employees to face manslaughter charges over the deaths of 11 workers in the deep water horizon.. the company will reportedly acknowledge some type of criminal behavior and is expected to pay a record fine.”
It’s also expected BP will plead guilty to obstruction for lying to Congress about how much oil was leaking out of the well. The Washington Post reports, other ramifications should be expected.
“it could affect BP’s ability to bid on contracts to supply fuel to the U.S. military. BP has been a major supplier of fuel to the Pentagon in the past … some individuals might be charged separately in connection with the alleged misreporting of the size of the spill and regarding events the night the Deepwater Horizon oil rig blew out, killing 11 people, sinking the rig and triggering the nearly 5 million barrel spill.”
The BBC reports up to four BP employees could face arrest as part of the settlement. But the New York Times reports, this is only the beginning of the settlements.
“Even if BP and the government settled on the criminal claims, BP would still be subject to other claims, including federal civil claims and claims for damages to natural resources. In particular, this settlement, if it is reached, does not include what is potentially the largest penalty: fines under the Clean Water Act. The potential fine for the spill under the Clean Water Act is $1,100 to $4,300 per barrel spilled. That means the fine could be as much as $21 billion...”
BP still faces private civil claims in New Orleans federal court, as well.
