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Author	Topic: BP hoping for $15 billion spill settlement with DoJ: Financial Times	Post a Reply Back to Topics

mastermariner Champion Author Texas Posts:4,247 Points:493,010 Joined:Jun 2011	Message Posted: Jun 8, 2012 9:00:01 PM Ignore mastermariner Report Abuse (Reuters) - BP Plc (LSE:BP.) is hoping to reach an agreement with U.S. authorities which would require it to pay under $15 billion to settle all criminal and civil penalties arising from the 2010 Deepwater Horizon disaster, the Financial Times reported, citing a person familiar with the matter. The amount is less than the $20 to $25 billion the Department of Justice is seeking from the company. Negotiations between the DoJ and BP are accelerating and an agreement could be reached before the Democratic party's convention in September, the FT quoted the person as saying. Eleven people were killed in the explosion on April 20, 2010, and 4.9 million barrels of oil spewed from the mile-deep well in by far the worst offshore U.S. oil spill. The oil giant still faces claims by the U.S. govern Visit Reuters for full article

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(Reuters) - BP Plc (LSE:BP.) is hoping to reach an agreement with U.S. authorities which would require it to pay under $15 billion to settle all criminal and civil penalties arising from the 2010 Deepwater Horizon disaster, the Financial Times reported, citing a person familiar with the matter.

The amount is less than the $20 to $25 billion the Department of Justice is seeking from the company.

Negotiations between the DoJ and BP are accelerating and an agreement could be reached before the Democratic party's convention in September, the FT quoted the person as saying.

Eleven people were killed in the explosion on April 20, 2010, and 4.9 million barrels of oil spewed from the mile-deep well in by far the worst offshore U.S. oil spill.

The oil giant still faces claims by the U.S. govern
Visit Reuters for full article

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PDQBlues Champion Author San Diego Posts:7,069 Points:1,447,350 Joined:Jan 2009	Message Posted: Jun 9, 2012 7:39:46 PM Ignore PDQBlues Report Abuse If BP is hoping for a $15 billion settlement, you know they're very worried about being on the hook for a much larger amount.
proudvet1 Rookie Author Atlanta Posts:51 Points:98,545 Joined:May 2012	Message Posted: Jun 9, 2012 2:54:26 PM Ignore proudvet1 Report Abuse smh
Night Owl Champion Author Toronto Posts:7,550 Points:1,786,600 Joined:Jul 2004	Message Posted: Jun 9, 2012 11:48:25 AM Ignore Night Owl Report Abuse BP should be paying a lot more for their negligence.
camaro_man Champion Author Kitchener-Waterloo Posts:2,227 Points:610,070 Joined:Jun 2010	Message Posted: Jun 9, 2012 8:02:14 AM Ignore camaro_man Report Abuse wow
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Jun 9, 2012 6:20:25 AM Ignore Agarre Report Abuse Just $15 Billion for BP ?
pscamp Champion Author Ottawa Posts:3,270 Points:474,160 Joined:May 2011	Message Posted: Jun 9, 2012 5:46:18 AM Ignore pscamp Report Abuse couch change....from our pockets
sljbc475 Champion Author Tucson Posts:4,215 Points:871,400 Joined:Dec 2010	Message Posted: Jun 9, 2012 5:42:22 AM Ignore sljbc475 Report Abuse BP has to pay up.
APlus Champion Author San Antonio Posts:3,913 Points:990,470 Joined:Apr 2007	Message Posted: Jun 9, 2012 5:22:27 AM Ignore APlus Report Abuse BP is still responsible for so much more damages that still remain. Do not let them settle for so little right now ----
werich44 Champion Author California Posts:1,852 Points:467,980 Joined:Jun 2011	Message Posted: Jun 9, 2012 5:17:22 AM Ignore werich44 Report Abuse Do not let them off the hook!
skippypa Champion Author Hawaii Posts:8,471 Points:1,739,955 Joined:Jun 2008	Message Posted: Jun 9, 2012 4:02:11 AM Ignore skippypa Report Abuse If the government agrees with this somebody's pocket is getting lined real good!!!!!!!!!!!!!!
ReddevilNO Champion Author New Orleans Posts:3,365 Points:580,340 Joined:Aug 2011	Message Posted: Jun 9, 2012 3:39:39 AM Ignore ReddevilNO Report Abuse That's not right, It should be more than that.
Travel1st Champion Author Las Vegas Posts:2,920 Points:470,660 Joined:Aug 2011	Message Posted: Jun 9, 2012 3:28:17 AM Ignore Travel1st Report Abuse Make BP and all others involved pay the most possible. 15 billion is not even a mosquito on their face. If they are not held responsible, why would they change any business practices in the future. This would start a very dangerous precedent.
wrunner Champion Author Virginia Posts:4,440 Points:1,136,360 Joined:Dec 2009	Message Posted: Jun 9, 2012 3:12:17 AM Ignore wrunner Report Abuse No way BP! Pay the full amount and pay it quickly.
daequitz Champion Author New Jersey Posts:6,317 Points:1,383,605 Joined:Jan 2007	Message Posted: Jun 9, 2012 2:59:02 AM Ignore daequitz Report Abuse Not right.
anascom Champion Author Hamilton Posts:1,593 Points:553,115 Joined:Feb 2011	Message Posted: Jun 9, 2012 12:05:11 AM Ignore anascom Report Abuse yawn!
KrsnaDragon Champion Author Montreal Posts:2,407 Points:530,550 Joined:Nov 2011	Message Posted: Jun 8, 2012 11:33:24 PM Ignore KrsnaDragon Report Abuse I'm about as offended as I usually am when I hear talk of price-haggling after eleven (11) lives were lost in this disaster. The amount of damage done to wildlife and to the environment are almost as disturbing.
2bigtanks All-Star Author Akron Posts:772 Points:371,610 Joined:Jun 2011	Message Posted: Jun 8, 2012 11:19:08 PM Ignore 2bigtanks Report Abuse Hummmm.
UseLessGasFolks Champion Author Iowa Posts:5,446 Points:1,295,850 Joined:Jul 2007	Message Posted: Jun 8, 2012 10:48:39 PM Ignore UseLessGasFolks Report Abuse Stick it to them.
MusicalMan7 All-Star Author Ohio Posts:597 Points:93,330 Joined:Apr 2012	Message Posted: Jun 8, 2012 10:45:40 PM Ignore MusicalMan7 Report Abuse Wonder how many of the billions the attorneys will get?
HA4CNN Champion Author Toronto Posts:5,624 Points:1,543,390 Joined:Dec 2006	Message Posted: Jun 8, 2012 10:45:07 PM Ignore HA4CNN Report Abuse Do not be silly and let them off the hook because the next time it will be considered a joke.
wz Champion Author Twin Cities Posts:2,484 Points:1,276,340 Joined:Feb 2009	Message Posted: Jun 8, 2012 10:38:42 PM Ignore wz Report Abuse BP is willing to settle the claim because our trial lawyers have created a "legal lotto" where juries are willing to award rediculous amounts to plaintiffs that have questionable standing and limited personal loss just to penalize the "big bad company" of whatever industry is in vogue. If they settle the claim, even for $15 billion, they don't have to risk these verdicts in hundreds of individual or several class action claims. Even though they could stretch those cases out over several years or even decades, they have to pay legal costs and eventually have to pay off the claims.
GSORIOS Sophomore Author California Posts:153 Points:8,030 Joined:Jun 2012	Message Posted: Jun 8, 2012 10:38:25 PM Ignore GSORIOS Report Abuse They never really want to pay what they owe, but if you owe them something they will come after you with all the billions they have.
TigerRose Champion Author Illinois Posts:14,896 Points:2,826,075 Joined:Mar 2004	Message Posted: Jun 8, 2012 10:34:55 PM Ignore TigerRose Report Abuse $15 Billion for nearly 5 Million gallons spread all over Gods creation, PLUS all the lives lost (not only people) plus jobs lost, and property damaged, just doesn't sound adequate. How much you want to bet, after it is all over, us consumers will be paying more for all this?
TFowler513 Champion Author Memphis Posts:3,824 Points:1,413,110 Joined:Mar 2008	Message Posted: Jun 8, 2012 10:33:10 PM Ignore TFowler513 Report Abuse After it is all over, who really profits from the litigation???
Samo1961 Champion Author Los Angeles Posts:1,895 Points:620,675 Joined:Feb 2011	Message Posted: Jun 8, 2012 10:29:27 PM Ignore Samo1961 Report Abuse Wow, how pathetic........
SavALot Champion Author Virginia Beach Posts:8,469 Points:1,710,860 Joined:Apr 2005	Message Posted: Jun 8, 2012 10:26:10 PM Ignore SavALot Report Abuse Settlement? Not in this lifetime!
vulcan96 Champion Author Ohio Posts:26,916 Points:3,103,675 Joined:Aug 2004	Message Posted: Jun 8, 2012 10:26:05 PM Ignore vulcan96 Report Abuse and the lawyers laugh all the way to the banks.....
no8c Champion Author Ohio Posts:2,804 Points:704,850 Joined:Jul 2008	Message Posted: Jun 8, 2012 10:24:56 PM Ignore no8c Report Abuse Thanks for posting this article!
sammy518 Champion Author Austin Posts:2,589 Points:539,790 Joined:Dec 2010	Message Posted: Jun 8, 2012 10:22:51 PM Ignore sammy518 Report Abuse hope NOT
MikLamb Champion Author Texas Posts:7,980 Points:2,174,145 Joined:Jun 2006	Message Posted: Jun 8, 2012 10:22:21 PM Ignore MikLamb Report Abuse Always negotiate for a better price, I guess.
aggietim Champion Author Fort Worth Posts:1,756 Points:693,325 Joined:Oct 2008	Message Posted: Jun 8, 2012 10:20:13 PM Ignore aggietim Report Abuse hmm
NotmeuQc Champion Author Montreal Posts:5,651 Points:1,133,050 Joined:Apr 2009	Message Posted: Jun 8, 2012 10:19:58 PM Ignore NotmeuQc Report Abuse I hope the DoJ doesn't take less than $20 billion.
Harry813 Champion Author Iowa Posts:3,000 Points:660,890 Joined:Jul 2011	Message Posted: Jun 8, 2012 10:19:38 PM Ignore Harry813 Report Abuse Can I have some ?
OWENALOTT Champion Author Appleton Posts:2,182 Points:500,095 Joined:Apr 2011	Message Posted: Jun 8, 2012 10:17:01 PM Ignore OWENALOTT Report Abuse Good read!
NanaNJNJ Veteran Author New Jersey Posts:280 Points:56,025 Joined:May 2012	Message Posted: Jun 8, 2012 10:16:48 PM Ignore NanaNJNJ Report Abuse ok
roadrunnerMO Champion Author Kansas Posts:8,406 Points:1,699,465 Joined:Jul 2008	Message Posted: Jun 8, 2012 10:13:37 PM Ignore roadrunnerMO Report Abuse It is crap anyway you look at it... not enough for the guilt they have.
300kmiles All-Star Author Orange County Posts:527 Points:415,805 Joined:Dec 2009	Message Posted: Jun 8, 2012 10:12:17 PM Ignore 300kmiles Report Abuse Payoff???
FlyNFool Champion Author South Carolina Posts:8,239 Points:1,684,975 Joined:Aug 2008	Message Posted: Jun 8, 2012 10:11:57 PM Ignore FlyNFool Report Abuse Cheap compared to their profits.
TBONE3 Champion Author Pennsylvania Posts:8,746 Points:1,976,650 Joined:Mar 2005	Message Posted: Jun 8, 2012 10:10:15 PM Ignore TBONE3 Report Abuse Hit then HARD while they are still down. That evens the score and make the do gooders feel GOOD!
Point__man Champion Author Raleigh Posts:4,330 Points:876,720 Joined:Oct 2010	Message Posted: Jun 8, 2012 10:09:22 PM Ignore Point__man Report Abuse lawyers milking this every way possible. wonder how many millions /billions spent on courts and legal personnel so far ;)
probedude2 Champion Author Akron Posts:12,553 Points:2,380,205 Joined:Jun 2003	Message Posted: Jun 8, 2012 10:08:35 PM Ignore probedude2 Report Abuse It sounds like a lot of money, but not as much for BP
krobp46 Champion Author Milwaukee Posts:2,706 Points:540,120 Joined:Sep 2011	Message Posted: Jun 8, 2012 10:07:25 PM Ignore krobp46 Report Abuse whatever is right is right
radiorumor Champion Author Texas Posts:2,807 Points:752,885 Joined:Feb 2011	Message Posted: Jun 8, 2012 10:07:06 PM Ignore radiorumor Report Abuse Does Kevin Costner know about this?
Tundralimited2009 Champion Author Dallas Posts:38,812 Points:1,447,425 Joined:Feb 2009	Message Posted: Jun 8, 2012 10:06:23 PM Ignore Tundralimited2009 Report Abuse Interesting
grouch311 Champion Author Peoria Posts:6,378 Points:1,572,880 Joined:Jun 2007	Message Posted: Jun 8, 2012 10:06:23 PM Ignore grouch311 Report Abuse will this fiasco never die? tired of hearing about it
OilOnTheCheap Champion Author Ventura Posts:2,097 Points:449,410 Joined:Jan 2012	Message Posted: Jun 8, 2012 10:06:22 PM Ignore OilOnTheCheap Report Abuse Someone should still go to jail. After all eleven men died.
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Jun 8, 2012 10:04:13 PM Ignore frostyWV Report Abuse they shouldn't be let off easy.
Rageagainsttm Champion Author Tampa Posts:8,298 Points:1,902,005 Joined:Jul 2007	Message Posted: Jun 8, 2012 10:02:27 PM Ignore Rageagainsttm Report Abuse sure
Ron77095 Champion Author Houston Posts:3,060 Points:602,675 Joined:Sep 2011	Message Posted: Jun 8, 2012 10:02:16 PM Ignore Ron77095 Report Abuse ok.
abacus44 Champion Author Toms River Posts:3,475 Points:747,515 Joined:Jan 2011	Message Posted: Jun 8, 2012 10:01:30 PM Ignore abacus44 Report Abuse Interesting.