fbpx
News
July 6, 2015

Financial Times: Delay in Reaching BP Settlement Harms “All Sides”

The Financial Times says “…the belligerence of the US authorities” delayed BP’s recent settlement over the Deepwater Horizon spill of 2010—to the detriment of “…BP and its shareholders, to the US oil industry, to the people of the gulf region, and to the interests of justice.”

BP announced last week that it will settle all federal and state claims arising from the incident for $18.7 billion, notwithstanding the $44 billion the company has already paid in legal cleanup costs.

“When accidents happen, it is in everyone’s interests for policy to focus on remediation and deterrence, not grandstanding and attempts to wring out the maximum possible payout,” notes the Financial Times.

Read the full story here.

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Review Settings