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  • BP oil spill fined $20 billion

    Well, BP got hit for $20 billion in fines for the Gulf oil rig spill in federal court by the DoJ and EPA.

    http://www.msn.com/en-us/money/compa...Kz&ocid=SMSDHP

    Meanwhile, the EPA in the Gold King mine spill in Colorado has said they're sorry... They do plan to clean up at least some of the mess though...

    https://www.epa.gov/goldkingmine

  • #2
    Tag they deserved the slap down.

    http://www.popularmechanics.com/scie...wout-happened/
    Credo quia absurdum.


    Quantum mechanics describes nature as absurd from the point of view of common sense. And yet it fully agrees with experiment. So I hope you can accept nature as She is - absurd! - Richard Feynman

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    • #3
      Originally posted by Bwaha View Post
      I didn't say BP did not deserve it. I pointed out the hypocrisy of the EPA levying massive fines on them while not even bothering to fire the management that caused the Gold King mine disaster. If BP is getting hit for huge fines for a massive accident causing pollution, the EPA should be sacking people left and right for the same thing when they cause one.

      How can a government agency supposedly regulating something ignore their own screw ups while heaping massive penalties on those they regulate?

      Comment


      • #4
        Originally posted by T. A. Gardner View Post
        I didn't say BP did not deserve it. I pointed out the hypocrisy of the EPA levying massive fines on them while not even bothering to fire the management that caused the Gold King mine disaster. If BP is getting hit for huge fines for a massive accident causing pollution, the EPA should be sacking people left and right for the same thing when they cause one.

        How can a government agency supposedly regulating something ignore their own screw ups while heaping massive penalties on those they regulate?
        Well there should be accountability for when anyone screws the pooch. Government employees just get a free pass. Just saying...

        Don't we have standing laws that state you can't sue the fed???

        If not why isn't there a conga line over agent orange and gulf war syndrome?
        Credo quia absurdum.


        Quantum mechanics describes nature as absurd from the point of view of common sense. And yet it fully agrees with experiment. So I hope you can accept nature as She is - absurd! - Richard Feynman

        Comment


        • #5
          Originally posted by Bwaha View Post
          Well there should be accountability for when anyone screws the pooch. Government employees just get a free pass. Just saying...

          Don't we have standing laws that state you can't sue the fed???

          If not why isn't there a conga line over agent orange and gulf war syndrome?
          You can sue the Fed's if the Fed's courts allow to.
          Watts Up With That? | The world's most viewed site on global warming and climate change.

          Comment


          • #6
            Originally posted by Bwaha View Post
            They have been slapped down and the Maobama Maladministration continues to use Macondo as an excuse to slap the entire industry down...

            So BP has reached an agreement with Attorney General Loretta Lynch to pay a fine of $20 billion for the Macondo disaster, bringing total costs for the company to somewhere in the range of $70 billion. BP’s share prices rose on the announcement, reflecting the achievement of closure and perhaps gratitude that the fine was not larger.

            Case closed, nothing to see here, move along, right? Well, not really. It’s not clear that there won’t be new lawsuits somewhere somehow, but more important is the damage to the company’s reputation and the industry more generally.

            [...]

            The entire offshore industry suffered from the Macondo disaster first, as the Administration slapped a hiatus on drilling that probably inflicted billions of dollars of costs—mostly on those completely uninvolved in the accident.

            [...]

            http://www.forbes.com/sites/michaell.../#3839a5395df1

            This is just one of many examples of regulatory malfeasance which were "justified" by Macondo...
            US offshore oil, natural gas industry blasts proposed well control rule

            Houston (Platts)--13 Nov 2015 650 am EST/1150 GMT

            A proposed rule that would regulate the safety of US offshore oil and natural gas operations could instead cripple a struggling offshore sector, an official with the Independent Petroleum Association of America said Thursday.

            The rule, which the US Bureau of Safety and Environmental Enforcement is proposing to improve well control in offshore operations, "not only would make it harder to operate" in the offshore environment, but also would "put standards in place that don't enhance safety," Dan Naatz, IPAA senior vice president of government affairs, said in an interview.

            Naatz cited an analysis of the rule that said its implementation would result in about 26% fewer wells per year being drilled in the Gulf of Mexico, leading to a capital investment reduction in the Gulf of 10% per year and the loss of 50,000 offshore-related jobs by 2027.

            The study, funded by the American Petroleum Institute and released in July by Blade Energy Partners and Quest Offshore, also found that the federal government would face a $10 billion reduction in revenues over 10 years as a result of the rule's implementation.

            [...]

            http://www.platts.com/latest-news/na...posed-26276991

            This rule, if implemented and upheld by the courts, will literally prevent the drilling of many routine wells... And this has been the purpose of most of Maobama's regulatory malfeasance... To force the industry to "leave it in the ground"...
            According to initial findings released on Monday, the study found that under an $80 oil assumption, comparable to the price assumptions used by BSEE in developing the rule, the Interior Department’s draft rule would:
            • Decrease exploration drilling by up to 55 percent or 10 wells annually
            • Reduce Gulf of Mexico production by as much as 35 percent by year 2030
            • Result in 105,000 – 190,000 jobs at risk by 2030; this may include jobs beyond the energy sector;
            • Most notably, 80 percent of these jobs could be in Louisiana and Texas.
            “The extreme costs associated with the proposed Well Control Rule will simply force operators out of the Gulf of Mexico, leaving valuable energy resources untapped, causing massive unemployment, devastating communities already hurt by the energy industry downturn, and slashing our federal government’s revenue from offshore production,” said Lori LeBlanc, Executive Director of the Gulf Economic Survival Team.

            [...]

            http://www.maritime-executive.com/ar...halve-drilling
            Last edited by The Doctor; 05 Apr 16, 06:03.
            Watts Up With That? | The world's most viewed site on global warming and climate change.

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            • #7
              Originally posted by Bwaha View Post
              Well there should be accountability for when anyone screws the pooch. Government employees just get a free pass. Just saying...

              Don't we have standing laws that state you can't sue the fed???

              If not why isn't there a conga line over agent orange and gulf war syndrome?
              There was, and still is.
              Quis Custodiet Ipsos Custodes? Who is watching the watchers?

              Comment


              • #8
                What? You cant sue the federal government? In SA people sue the goverment and in many cases win.
                you think you a real "bleep" solders you "bleep" plastic solders don't wory i will make you in to real "bleep" solders!! "bleep" plastic solders

                CPO Mzinyati

                Comment


                • #9
                  Sovereign immunity in the United States is the legal privilege by which the American federal, state, and tribal governments cannot be sued (sovereign immunity). Local governments in most jurisdictions enjoy immunity from some forms of suit, particularly in tort. Foreign governments enjoy immunity from suit (state immunity) as provided in the Foreign Sovereign Immunities Act. This principle is commonly expressed by the popular legal maxim "rex non potest peccare," meaning "the king can do no wrong.

                  https://en.wikipedia.org/wiki/Sovere..._United_States

                  This is one of the reasons I got out of the Air Force after one term. I was constantly exposed to toxins without a respirator or any other safety gear that would be mandated by OSHA...
                  Credo quia absurdum.


                  Quantum mechanics describes nature as absurd from the point of view of common sense. And yet it fully agrees with experiment. So I hope you can accept nature as She is - absurd! - Richard Feynman

                  Comment


                  • #10
                    Paid out over 16 years-I wondered why their stock didn't take that large of a hit.
                    Any man can hold his place when the bands play and women throw flowers; it is when the enemy presses close and metal shears through the ranks that one can acertain which are soldiers, and which are not.

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                    • #11
                      Originally posted by Arnold J Rimmer View Post
                      Paid out over 16 years-I wondered why their stock didn't take that large of a hit.
                      Because the uncertainty is resolved. Now that we know BP isn't about to be barred from doing business in the US and the largest financial threat is settled, they can move on to something else and keep the machine running.

                      Comment


                      • #12
                        Well.... that's another 20 Billion headed to a secret off-shore account somewhere.
                        I wonder what Obama's cut will be.
                        "Why is the Rum gone?"

                        -Captain Jack

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                        • #13
                          You can sue government entities in the US too. However, in essence you have to petition them (called a "Notice of Claim") for permission before you can.

                          Comment


                          • #14
                            Originally posted by The Exorcist View Post
                            Well.... that's another 20 Billion headed to a secret off-shore account somewhere.
                            I wonder what Obama's cut will be.
                            Its spread over 16 years. That's pocket change for a major oil company. Assuming they pay it. There's a lot of campaigns in the next 16 years...
                            Any man can hold his place when the bands play and women throw flowers; it is when the enemy presses close and metal shears through the ranks that one can acertain which are soldiers, and which are not.

                            Comment


                            • #15
                              Originally posted by Arnold J Rimmer View Post
                              Its spread over 16 years. That's pocket change for a major oil company. Assuming they pay it. There's a lot of campaigns in the next 16 years...
                              It's not pocket change. However, it is finite.
                              Watts Up With That? | The world's most viewed site on global warming and climate change.

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