Posted on 07/02/2015 6:23:48 AM PDT by GIdget2004
LONDON— BP PLC has agreed to pay $18.7 billion over 18 years to settle all federal and state claims arising from the Deepwater Horizon oil spill, five years after the accident.
“Five years ago we committed to restore the Gulf economy and environment and we have worked ever since to deliver on that promise,” said BP chairman Carl-Henric Svanberg.
“We have made significant progress, and with this agreement we provide a path to closure for BP and the Gulf. It resolves the company’s largest remaining legal exposures, provides clarity on costs and creates certainty of payment for all parties involved,” he added.
(Excerpt) Read more at wsj.com ...
Why did they agree to this? I am SURE that thieves are not going to skim billions off the top!
Isn’t this like the official signing over of the previously allocated funds. i.e. after every individual and business filed and they totaled claims, now we see the actually transfer of the amount for distribution.
I know some that filed years ago and still have no compensation.
Did Obama put his feet on their necks???? He needed to plug that damn hole.
The power of the federal government to stop many more billions of dollars of production. For example:
Obama administration delivers big blow to Shell’s Arctic drilling plans
http://www.freerepublic.com/focus/f-news/3306903/posts
Are you trying to say that Chairman Maobama is a shakedown artist like Sharpton and Jackson?
So, much much does BP take off for O attempting to slow down/stop the process? Didn’t he turn back some help and wait ~3 weeks to start attempting to do anything?
Of course! Good memory!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.