Not Logged In Log In   Sign Up   Points Leaders
Follow Us    10:03 AM

GasBuddy News Article

46
votes
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.


Read the Full Article

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

Posts:517
Points:734,195
Joined:Jan 2011
Message Posted: Jul 20, 2012 8:05:48 AM

k
honda0105
Champion Author Tallahassee

Posts:24,041
Points:2,387,215
Joined:Nov 2008
Message Posted: Jul 18, 2012 6:06:01 AM

thanks for posting.
LetemEatCake
Champion Author Oklahoma City

Posts:5,705
Points:1,360,915
Joined:Mar 2008
Message Posted: Jul 16, 2012 11:21:17 PM

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

Posts:12,143
Points:2,137,480
Joined:Oct 2007
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

Posts:5,966
Points:1,346,985
Joined:Sep 2011
Message Posted: Jul 16, 2012 1:33:28 PM

Thank you for posting.
coughlin
Champion Author San Jose

Posts:6,929
Points:1,522,915
Joined:Sep 2009
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

Posts:2,138
Points:863,480
Joined:May 2008
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

Posts:475
Points:112,875
Joined:Mar 2005
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

Posts:382
Points:252,420
Joined:Mar 2012
Message Posted: Jul 16, 2012 12:31:08 AM

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

Posts:10,531
Points:2,229,725
Joined:Oct 2008
Message Posted: Jul 15, 2012 11:59:41 PM

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

Posts:1,976
Points:1,302,685
Joined:Sep 2007
Message Posted: Jul 15, 2012 11:57:36 PM

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

Posts:2,959
Points:1,093,155
Joined:Jun 2011
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

Posts:13,789
Points:2,632,270
Joined:Mar 2008
Message Posted: Jul 15, 2012 11:56:38 PM

Thanks BP
gsipper
Champion Author Indianapolis

Posts:2,763
Points:1,328,415
Joined:Dec 2010
Message Posted: Jul 15, 2012 11:56:14 PM

Way to go BP.
jrsva
Champion Author Virginia

Posts:13,335
Points:2,388,800
Joined:Jan 2006
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

Posts:5,013
Points:1,265,695
Joined:Jun 2011
Message Posted: Jul 15, 2012 11:51:50 PM

good
sprocketsplines
Champion Author Washington

Posts:4,862
Points:1,616,460
Joined:Oct 2010
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

Posts:12,007
Points:2,511,545
Joined:May 2008
Message Posted: Jul 15, 2012 11:49:40 PM

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

Posts:3,334
Points:503,460
Joined:Apr 2011
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

Posts:3,208
Points:592,275
Joined:Feb 2011
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

Posts:5,379
Points:1,645,180
Joined:Mar 2008
Message Posted: Jul 15, 2012 11:43:30 PM

Ok
jessek
Champion Author Detroit

Posts:2,657
Points:1,280,490
Joined:Sep 2008
Message Posted: Jul 15, 2012 11:43:30 PM

Hope it never happens again.
mstearno
Champion Author Dayton

Posts:9,680
Points:2,355,030
Joined:Jan 2008
Message Posted: Jul 15, 2012 11:43:20 PM

let's do more shallow drilling
DarthDadJr
Champion Author Virginia

Posts:9,529
Points:2,203,510
Joined:Jul 2008
Message Posted: Jul 15, 2012 11:41:03 PM

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

Posts:6,589
Points:1,450,795
Joined:May 2011
Message Posted: Jul 15, 2012 11:39:45 PM

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

Posts:10,298
Points:2,221,525
Joined:Jan 2009
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

Posts:61
Points:4,200
Joined:Jun 2012
Message Posted: Jul 15, 2012 11:35:53 PM

hmm, think about it
beachmanglen
Champion Author Tampa

Posts:1,872
Points:1,069,575
Joined:Aug 2011
Message Posted: Jul 15, 2012 11:34:21 PM

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

Posts:6,657
Points:2,153,630
Joined:Apr 2006
Message Posted: Jul 15, 2012 11:32:22 PM

Good luck!!
naiiawah
Champion Author Boise

Posts:5,266
Points:1,437,980
Joined:Mar 2011
Message Posted: Jul 15, 2012 11:32:19 PM

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

Posts:5,570
Points:1,373,315
Joined:Aug 2011
Message Posted: Jul 15, 2012 11:32:00 PM

ok
Amtrgas
Champion Author Oakland

Posts:2,837
Points:2,288,045
Joined:Dec 2007
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

Posts:12,029
Points:2,616,605
Joined:Aug 2005
Message Posted: Jul 15, 2012 11:28:45 PM

OK
Harry813
Champion Author Iowa

Posts:4,724
Points:1,344,195
Joined:Jul 2011
Message Posted: Jul 15, 2012 11:27:24 PM

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

Posts:2,554
Points:1,174,055
Joined:Mar 2011
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

Posts:149
Points:1,019,890
Joined:Dec 2010
Message Posted: Jul 15, 2012 11:22:43 PM

which they should
goldrose1
Champion Author Cleveland

Posts:14,175
Points:2,667,535
Joined:Feb 2005
Message Posted: Jul 15, 2012 11:22:28 PM

BP just writes it off.
DEG
Champion Author Las Vegas

Posts:20,736
Points:4,242,380
Joined:Jul 2003
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

Posts:5,849
Points:1,324,600
Joined:Oct 2011
Message Posted: Jul 15, 2012 11:21:38 PM

Ok
Jeeputtputt
Champion Author Ohio

Posts:3,042
Points:693,325
Joined:Aug 2009
Message Posted: Jul 15, 2012 11:16:32 PM

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

Posts:795
Points:1,164,185
Joined:Jun 2008
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

Posts:5,889
Points:1,307,045
Joined:Sep 2005
Message Posted: Jul 15, 2012 11:14:12 PM

WoW !!
blazerbob91
Champion Author Milwaukee

Posts:7,101
Points:2,603,310
Joined:Aug 2005
Message Posted: Jul 15, 2012 11:12:33 PM

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

Posts:2,841
Points:2,334,290
Joined:May 2007
Message Posted: Jul 15, 2012 11:09:13 PM

Veryyyyyyyyyyyyyyyyyyy interesting!
gumbyrex
Champion Author Fresno

Posts:6,512
Points:1,533,130
Joined:Mar 2011
Message Posted: Jul 15, 2012 11:06:45 PM

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

Posts:8,797
Points:2,285,690
Joined:Oct 2008
Message Posted: Jul 15, 2012 11:06:21 PM

Interesting
HDFXR1991
All-Star Author Wisconsin

Posts:509
Points:365,180
Joined:Sep 2008
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

Posts:382
Points:252,420
Joined:Mar 2012
Message Posted: Jul 15, 2012 11:00:00 PM

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

Posts:8,518
Points:1,367,835
Joined:Mar 2008
Message Posted: Jul 15, 2012 10:56:28 PM

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

Posts:4,836
Points:1,114,440
Joined:Apr 2012
Message Posted: Jul 15, 2012 10:56:09 PM

agree with paulydel
danlanman
Champion Author North Carolina

Posts:6,475
Points:1,493,945
Joined:May 2011
Message Posted: Jul 15, 2012 10:55:48 PM

ok
Post a reply Back to Topics