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BP's Gulf of Mexico Oil Spill Disaster Just Got a Whole Lot Worse

June 5, 2014
TheStreet / Powered by
The United States may win the fight to smack BP and Anadarko with maximum multi-billion dollar fines for violating pollution laws resulting from the 2010 Gulf of Mexico oil spill. The U.S. Court of Appeals in New Orleans upheld a U.S. District Judge's ruling that the United States may seek to collect as much as $18 billion from BP and $4.6 billion from Anadarko. Oppenheimer & Co. oil analyst Fadel Gheit tells TheStreet's Joe Deaux that the key will be whether the judge determines BP to have been grossly negligent, which carries the maximum fine. Should the judge rule BP wasn’t grossly negligent, the fine would be $4.6 billion. Video provided by TheStreet
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