Justin Stumberg, http://www.defense.gov/photoessays/photoessayss.aspx?id=1667
The decision was ruled out after almost six years after the Gulf of Mexico saw an explosion occurred on the Deepwater Horizon rig, leased by BP. The blast killed 11 people, 17 were injured. In addition, the explosion resulted in one of the largest man-made disasters in history: about three months from the explosion, oil from the damaged platform was leaking into the waters of the Gulf of Mexico. As a result, about 5 million barrels of oil got into the sea; the pollution area amounted to 176 thousand sq. km.
Judge Carl Barbier reiterated that BP showed criminal negligence in the platform’s management. In July last year, the Court approved a preliminary agreement for the damage in accordance with US environmental law ‘Clean Water Act’. Then, the amount of compensation was estimated at $ 5.5 billion. Yesterday's decision includes this agreement. An US Department of Justice estimated, taking into account approximate amounts that are due to all the affected parties, BP will have to pay $ 20.8 billion. The payments will be made during 16 years.
This agreement has become the largest in US history compensation for environmental damage: compensation will be paid not only to the authorities and environmental organizations, restoring the natural balance of the affected areas, but also to thousands of local people, including fishermen, who have been deprived of work for a long time. US Attorney General Loretta Lynch said that «BP gets punished - it will be obliged to repair the damage inflicted on the environment and economy of the region." BP spokesman Geoff Morrell, in turn, said: "We are pleased that the court has reached an agreement with all parties and made the final decision."
The explosion at the Deepwater Horizon oil platform in the Gulf of Mexico occurred April 20, 2010. According to official figures, 11 people were killed. The rescuers managed to stop the oil spilling only by the beginning of August 2010. According to experts, the Gulf of Mexico was polluted by about 5 million barrels of oil, the oil slick has reached the area of 75 thousand sq. km. Liquidation of the failure’s consequences costed $ 14 billion to BP. The company set up a $ 20-billion fund to pay claims out. In March 2012, BP reached an out-of-court agreement on the payments for civil claims – the total sum amounted to about $ 7.8 billion for more than 100 thousand claims. Before, the fund had already paid $ 6 billion.
The penalty assigned to BP is the largest in US history. The previous record was a fine that paid the pharmaceutical company Pfizer in 2009 for "fraudulent marketing" their products ($ 1.3 billion).
source: wsj.com
Judge Carl Barbier reiterated that BP showed criminal negligence in the platform’s management. In July last year, the Court approved a preliminary agreement for the damage in accordance with US environmental law ‘Clean Water Act’. Then, the amount of compensation was estimated at $ 5.5 billion. Yesterday's decision includes this agreement. An US Department of Justice estimated, taking into account approximate amounts that are due to all the affected parties, BP will have to pay $ 20.8 billion. The payments will be made during 16 years.
This agreement has become the largest in US history compensation for environmental damage: compensation will be paid not only to the authorities and environmental organizations, restoring the natural balance of the affected areas, but also to thousands of local people, including fishermen, who have been deprived of work for a long time. US Attorney General Loretta Lynch said that «BP gets punished - it will be obliged to repair the damage inflicted on the environment and economy of the region." BP spokesman Geoff Morrell, in turn, said: "We are pleased that the court has reached an agreement with all parties and made the final decision."
The explosion at the Deepwater Horizon oil platform in the Gulf of Mexico occurred April 20, 2010. According to official figures, 11 people were killed. The rescuers managed to stop the oil spilling only by the beginning of August 2010. According to experts, the Gulf of Mexico was polluted by about 5 million barrels of oil, the oil slick has reached the area of 75 thousand sq. km. Liquidation of the failure’s consequences costed $ 14 billion to BP. The company set up a $ 20-billion fund to pay claims out. In March 2012, BP reached an out-of-court agreement on the payments for civil claims – the total sum amounted to about $ 7.8 billion for more than 100 thousand claims. Before, the fund had already paid $ 6 billion.
The penalty assigned to BP is the largest in US history. The previous record was a fine that paid the pharmaceutical company Pfizer in 2009 for "fraudulent marketing" their products ($ 1.3 billion).
source: wsj.com