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Analysis: New law on BP spill fines raises stakes for Gulf states

Reuters -- U.S. Gulf Coast states have a higher stake in the amount of money the U.S. government can wring out of BP Plc for the 2010 Deepwater Horizon oil spill due to a new law that would divert billions of dollars in potential BP fines to them.

The RESTORE Act, signed by President Barack Obama on July 6, directs that 80 percent of Clean Water Act penalties paid by BP be placed in a new trust fund for restoration efforts in the five coastal states damaged by the worst U.S. offshore oil spill: Louisiana, Alabama, Mississippi, Florida and Texas.

BP faces billions of dollars in civil and criminal penalties from the April 20, 2010, explosion aboard the Deepwater Horizon rig, which killed 11 rig workers and unleashed 4.9 million barrels of oil that soiled the shorelines of four Gulf Coast states.


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Submitted Jul 15, 2012 By: Mudsprings
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Analysis: New law on BP spill fines raises stakes for Gulf states Back to Topics
REPLIES (newest first) Post a Reply
cee68
All-Star Author Arizona

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Message Posted: Jul 20, 2012 8:05:48 AM

k
honda0105
Champion Author Tallahassee

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Message Posted: Jul 18, 2012 6:06:01 AM

thanks for posting.
LetemEatCake
Champion Author Oklahoma City

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Message Posted: Jul 16, 2012 11:21:17 PM

Good article. Totally agree Six Ball!
six_ball_man
Champion Author Rochester

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Message Posted: Jul 16, 2012 2:32:03 PM


Folks supporting the criminals at BP and drilling in the gulf in general must not like eating very much...or at least eating shrimp.
sparky808
Champion Author Honolulu

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Message Posted: Jul 16, 2012 1:33:28 PM

Thank you for posting.
coughlin
Champion Author San Jose

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Message Posted: Jul 16, 2012 11:56:42 AM

Imagine if it had been a company 'only' worth a couple of million dollars?
roadrunnin
Champion Author Richmond

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Message Posted: Jul 16, 2012 12:46:17 AM

since they suffered the most, shouldn't they get the most restitution?
jimpeel
Veteran Author Colorado

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Message Posted: Jul 16, 2012 12:38:09 AM

Enough money will fix anything. That's what the politicians will tell us -- right?
justmedc
Veteran Author Michigan

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Message Posted: Jul 16, 2012 12:31:08 AM

money should go to fix and clean areas affected
NorthglennBill
Champion Author Denver

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Message Posted: Jul 15, 2012 11:59:41 PM

...and the lawyers continue to make money. Lots of money.
hatterasjack
Champion Author South Carolina

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Message Posted: Jul 15, 2012 11:57:36 PM

These fines should go to cleaning up these kind of messes.
stopforgas
Champion Author Mississippi

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Message Posted: Jul 15, 2012 11:57:15 PM

I keep reading responses from folks who say "leave BP alone, accidents happen, etc." Obviously they are not from the gulf coast or haven't seen the real impact of the oil spill. BP was blatantly negligent as was Halliburton. Not only should they pay restitution, they should should face punitive damages high enough to make them change policies and culture. I say hit them $100 billion dollars and make them think twice about disregarding common sense and risking more damage to the environment.
joel27nc
Champion Author Raleigh

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Message Posted: Jul 15, 2012 11:56:38 PM

Thanks BP
gsipper
Champion Author Indianapolis

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Message Posted: Jul 15, 2012 11:56:14 PM

Way to go BP.
jrsva
Champion Author Virginia

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Message Posted: Jul 15, 2012 11:55:40 PM

“The Government should leave BP alone. Accidents happen.”

Wow, now there’s an idea . . . but not a good one. The Deepwater Horizon was an ‘accident’ waiting to happen. It is hard to call it an accident when it was largely due to incompetence and mismanagement. Profit first, Safety last was the motto.
bowler360
Champion Author Illinois

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Message Posted: Jul 15, 2012 11:51:50 PM

good
sprocketsplines
Champion Author Washington

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Message Posted: Jul 15, 2012 11:51:36 PM

Too often funds placed in trust are later misappropriated for other urgent needs.
bobdec
Champion Author Miami

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Message Posted: Jul 15, 2012 11:49:40 PM

Fines will not deter the spills very much
SandeeC
Champion Author Ontario

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Message Posted: Jul 15, 2012 11:44:50 PM

The fines won't stop the spills... but it will help in clean-up costs. Wherever there's oil, spills will keep on happening. The answer is to put the money into ways to clean it up faster and better.
nomad228
Champion Author Columbus

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Message Posted: Jul 15, 2012 11:44:02 PM

blah blah blah means people making claims to get ten times what their businesses were worth or would bring in during a great year. blah blah blah blah means driving a competittor out of business so another american company can buy their holdings on the cheap.yes the oil rig workers and their families should be paid restitution plus a life long stipen for the ones who lost their provider. blah blah blah means but i think bp has went above and beyond taking care of their responsibility for the spill and hopefully all of big earl will learn from their mistakes .
WinderGuy
Champion Author Georgia

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Message Posted: Jul 15, 2012 11:43:30 PM

Ok
jessek
Champion Author Detroit

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Message Posted: Jul 15, 2012 11:43:30 PM

Hope it never happens again.
mstearno
Champion Author Dayton

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Message Posted: Jul 15, 2012 11:43:20 PM

let's do more shallow drilling
DarthDadJr
Champion Author Virginia

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Message Posted: Jul 15, 2012 11:41:03 PM

Let's hope that this doesn't happen again...
fenster66
Champion Author Pittsburgh

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Message Posted: Jul 15, 2012 11:39:45 PM

hope BP and Big Oil learn from this...
PDQBlues
Champion Author San Diego

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Message Posted: Jul 15, 2012 11:38:39 PM

Maybe next time these oil corporations will actually make safety a priority.
TheOneOkole
Rookie Author Tucson

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Message Posted: Jul 15, 2012 11:35:53 PM

hmm, think about it
beachmanglen
Champion Author Tampa

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Message Posted: Jul 15, 2012 11:34:21 PM

The Government should leave BP alone. Accidents happen.
kd5kpd
Champion Author Texas

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Message Posted: Jul 15, 2012 11:32:22 PM

Good luck!!
naiiawah
Champion Author Boise

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Message Posted: Jul 15, 2012 11:32:19 PM

As it should be (where the money goes)!
drz614
Champion Author Harrisburg

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Message Posted: Jul 15, 2012 11:32:00 PM

ok
Amtrgas
Champion Author Oakland

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Message Posted: Jul 15, 2012 11:30:09 PM

I hope that the people who were effected, by the explosion and spill. Are the ones getting the money, and not the government.
WIPACKERFAN
Champion Author Chicago

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Message Posted: Jul 15, 2012 11:28:45 PM

OK
Harry813
Champion Author Iowa

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Message Posted: Jul 15, 2012 11:27:24 PM

They have the $& to pay the fines.
rf6480
Champion Author Miami

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Message Posted: Jul 15, 2012 11:23:16 PM

all politics. Why does there need to be another law? The spill happened they got fined spend the cleanup money where it's needed.
Dougieda
Sophomore Author Boston

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Message Posted: Jul 15, 2012 11:22:43 PM

which they should
goldrose1
Champion Author Cleveland

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Message Posted: Jul 15, 2012 11:22:28 PM

BP just writes it off.
DEG
Champion Author Las Vegas

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Message Posted: Jul 15, 2012 11:22:17 PM

The government stealing from all of us to benefit a single region.
ratboy1968
Champion Author Montreal

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Message Posted: Jul 15, 2012 11:21:38 PM

Ok
Jeeputtputt
Champion Author Ohio

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Message Posted: Jul 15, 2012 11:16:32 PM

tax, sue, fine,
Goody2317
All-Star Author Wilmington

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Message Posted: Jul 15, 2012 11:14:16 PM

Somehow, I see this is going to backfire and they states will hardly see any of this money.
bikerchicklette
Champion Author Washington

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Message Posted: Jul 15, 2012 11:14:12 PM

WoW !!
blazerbob91
Champion Author Milwaukee

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Message Posted: Jul 15, 2012 11:12:33 PM

We'll all pay for the spill
MRHONEST
Champion Author Illinois

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Message Posted: Jul 15, 2012 11:09:13 PM

Veryyyyyyyyyyyyyyyyyyy interesting!
gumbyrex
Champion Author Fresno

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Message Posted: Jul 15, 2012 11:06:45 PM

The states are entitled to every penny, if not more.
serrog
Champion Author Nova Scotia

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Message Posted: Jul 15, 2012 11:06:21 PM

Interesting
HDFXR1991
Veteran Author Wisconsin

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Message Posted: Jul 15, 2012 11:05:31 PM

And are theses states going to get the money due to them? HELL NO!
justmedc
Veteran Author Michigan

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Message Posted: Jul 15, 2012 11:00:00 PM

the money should go to the clean up
96sc1
Champion Author El Paso

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Message Posted: Jul 15, 2012 10:56:28 PM

Way to buy votes, Mr. President!
teebone1234
Champion Author San Francisco

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Message Posted: Jul 15, 2012 10:56:09 PM

agree with paulydel
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