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

Date:
June 5, 2014
Source:
TheStreet / Powered by NewsLook.com
Summary:
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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Secrecy Shrouds Decade-Old Gulf of Mexico Spill

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AP (Apr. 16, 2015) — More than a decade after oil started leaking at the Taylor Energy Company site in the Gulf of Mexico, few people even know of its existence. An AP investigation uncovered evidence the spill is far worse than the company has publicly reported. (April 16) Video provided by AP
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Five Years Later, the BP Oil Spill Is Still Taking Its Toll

Five Years Later, the BP Oil Spill Is Still Taking Its Toll

AFP (Apr. 20, 2015) — On April 20, 2010, an explosion and fire on the Deepwater Horizon rig in the Gulf of Mexico started the biggest oil spill in US history. BP recently reported the Gulf is recovering well, but scientists paint a different picture. Duration: 02:36 Video provided by AFP
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Lost Oil Spill Appeal Could Cost BP

Lost Oil Spill Appeal Could Cost BP

Reuters - Business Video Online (Mar. 4, 2014) — BP has lost another legal battle over the Gulf of Mexico oil spill. Hayley Platt looks at the impact of the ruling not to block businesses from recovering money, even if they can't trace their losses to the disaster. Video provided by Reuters
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