USA is lawsuit vs BP
- Thread starter Patient Keeper
- Start date
Soldato
Since when have American companies paid any decent amount of compensation for all the ****-ups they have done.
I'm sure someone will correct me but Bhopal disaster , piper alpha etc
I'm sure someone will correct me but Bhopal disaster , piper alpha etc
That's upto the Indian authorities to do. If they don'y pay, then you kick them out and seize assets.
When did American industry in the Gulf of Mexico become responsible for the actions of UCIL.
How much is this actually going to affect BP though, considering they have already said they will pay all the cleanup fees/compensation which this lawsuit is bringing to them. The other companies however may now have to help BP with this compensation and the costs?
Soldato
A big chunk of BP is owned by yanks.
So its them that will be hit hardest.
So its them that will be hit hardest.
Well, the sp is down 2.7% today... so it's affected me!
It will impact both UK and US pensions because its simple economics. BP is key stock for pension funds in both countries, and a massive amount hinges on the company's stock value, which will fall as a result of any court case, especially one brought by the US government.
BPs stock already dropped 25% when the crisis was happening which led to them having to suspend the dividend, this hurt pension funds an awful lot. What are they going to do if it falls further?
Caporegime
If the existing BP provision for clean up was sufficient the US wouldn't be suing them. Punitive damages could be awarded also.
Well, hopefully we will have found out that the whole climate change thing is a pile of nonsense well before that! So no worries..
Associate
Bhopal, was that the poisons Bhopal, was that the poisons gas leak in India that killed people !
I wonder how keen the US Gov were that one of their companies was seen to be doing the right thing in compensation.
If I remember they paid woefully poor amounts to the Indians, stating what they received was a lot for them ! !
Shocking !
It's good you are not saying anything because then you could be called a fool!
The US gov is suing BP first as a matter of course. They did not say they will not go after the other contractors. Since you like facts, you should know that there is already an investigation for criminal damages pending for BP and the rest of the companies with results awaiting to be announced sometime in January if memory serves me right. This lawsuit is a different thing.
There is no conspiracy here I'm afraid.
As for who is doing the cleanup job, mind sharing your sources? Last time I checked BP had contracted multiple companies for the cleanup, not just one. And if Boots and Coots is the largest cleanup company as you suggest then it only makes sense they would hire them as well.
As for the buyouts of the rig partners prior to the spill, that is normal business as the oil&gas industry has been consolidating (and will continue to do so) for a very long time now. Hopefully you were not suggesting with your post that the other companies knew about the spill and took measures before it happened - I mean, all sorts of measures APART FROM STOPPING WORK OR ALERTING PEOPLE about it right? Because the latter would be stupid, right? I mean, it makes perfect sense they would want to be embroiled in a huge lawsuit that may take years and massive costs to shake off instead of just stop working on a disaster-to-be. Yes, perfect sense.
I wouldn't be surprised if the whole point of the lawsuit is exactly to prove that the clean up was sufficient after all and give BP the seal of approval that everything is done and dusted.
Conspiracy theories aside, the US gov doesn't have many options apart from going after BP as the whole clean up sufficiency can be debated thoroughly - a court of law should be the best way to put things behind and settle the spill once and for all, so that BP can get on with its business. In a perverted way it's a good thing for BP because whatever the outcome it can close this thing and carry on doing business without the shadow of what-might-happen over it.
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