Expect more fines cut for corporations since the Neo-Con Republicans are in D.C. (my comment) A United States federal judge has ruled that a fine imposed on the oil giant British Petroleum (BP) for the 2010 Gulf of Mexico spill be reduced by billions. Judge Carl Barbier ruled on Thursday that the size of the oil spill from the Deepwater Horizon drilling rig in 2010 was smaller than the government had claimed. The judge said that 3.17 million barrels of oil were released during the incident which is far lower than 4.19 million barrels estimated by Justice Department prosecutors. The maximum fine therefore would be 13.7 billion dollars. It is significantly lower than the 18 billion dollars fine called for by prosecutors. “Today’s ruling is a major victory for BP and reduces by billions their potential liability,” said law professor David Uhlman. “A fine in excess of $10 billion remains possible but is now less likely,” Uhlman added. As a result of the announcement, BP’s stock rose 6 percent Friday on the New York Stock exchange in the first day of trading. The oil spill which was the worst environmental disaster in US history began with an explosion on the Deepwater Horizon drilling oil rig in April 2010. Eleven workers were killed and hundreds of millions of gallons of oil spilled out of a burst underwater pipe into the Gulf of Mexico for almost the entire summer. The spill resulted in an enormous oil slick, visible from space and affecting wildlife in an area of 68,000 square miles (180,000 km2). SB/HRJ COMMENTS Before you submit, read our comment policy. Send your Feedback. Name Email Captcha Captcha Comment...500 characters left Submit Note: The views expressed and the links provided on our comment pages are the personal views of individual contributors and do not necessarily reflect the views of Press TV. Ostmann 1/19/2015 5:40:31 PM Its judeo-freemason Plutocracy. - 0-3 + Reply S Balu 1/18/2015 11:24:01 AM Progress begins with corruption! - 0-10 + Reply US Citizen 1/18/2015 10:54:26 AM BP, as 100% jewish owned, will pay nothing at the end. No fines for Zionists!!! - 0-18 + Reply LATEST NEWSTOP HITS Anonymous targets pedophile networks Iran to retaliate any new US sanctions TSA found record number of guns in 2014 Anti-Muslim violence spikes in France US: Netanyahu ‘spat in our face’ Spain PM privy to payoffs in party Darfur saw 3,000 villages ruined in 2014 Two Armenia troops die in border clash New Tunisian PM forms cabinet More articles SCHEDULE Now World News in Full 22:30 News In Brief POLL What do you think of the latest Israeli airstrike against Hezbollah fighters combating Takfiri militants in Syria? It shows Israel’s support for the militants wreaking havoc in Syria. It can be seen in light of Israel’s upcoming election. Israel has the right to attack other countries for assassinations. SUBMIT
Posted on: Fri, 23 Jan 2015 22:07:11 +0000
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