BP to pay $4.5 billion in fines, plead guilty to oil spill
BP announced it would pay $4.5 billion in fines and other payments to the U.S. government in connection with the devastating Gulf of Mexico oil spill two years ago. We're taking a closer look at this interesting story from the Current community. Check it out and add your two cents:
Submitted by letsliveinpeace
Oil giant BP has agreed to plead guilty to 14 criminal charges related to the death of 11 workers and lying to Congress. In addition, two BP employees have been indicted on manslaughter charges for their part in the oil spill disaster.
"We believe this resolution is in the best interest of BP and its shareholders," said Carl-Henric Svanberg, BP chairman. "It removes two significant legal risks and allows us to vigorously defend the company against the remaining civil claims."
The settlement, which is subject to approval by a federal judge, includes payments of nearly $2.4 billion to the National Fish and Wildlife Foundation, $350 million to the National Academy of Sciences and about $500 million to the Securities and Exchange Commission.
The community responds to BP agreeing to pay the largest criminal penalty in U.S. history:
circlesquared: "Not nearly enough and so small a percentage of their annual profits to boot."
alexandrekBack: "Till a zillion more than Bhopal or what the usual poor country get for their oil and our pollution! Yet, agree, compare to their profits...."
treewolf39: "I think there are decision position people who belong in prison and stripped of all wealth."
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(Photo: Getty Images)