According to Reuters 10/10/12, BP PLC and the U.S. Justice Department are close to a broad deal that would RELEASE the company from additional civil and criminal liabilities arising out of 2010 Deepwater Horizon disaster, the Wall Street Journal reported, citing people familiar with the talks.
BP in March reached an estimated $7.8 billion deal to resolve its liability with plaintiffs that ranged from condominium owners, fishermen, hoteliers, restaurant owners to others who say their livelihood was damaged by the spill.
A settlement with the Justice Department would resolve BP’s biggest remaining liability from the rig explosion that killed 11 workers and led to the worst offshore oil spill in U.S. history.
BP could be liable for between $5.4 billion and $21 billion in civil penalties under the Clean Water Act alone, depending on whether it were found to be grossly negligent, which it has denied, the paper said.
Essentially, despite the horrific damage this company caused on the Gulf Coast and potentially the Pacific Ocean, the big business will not be held completely responsible afterall. According to reports, the billions already paid, has been more than satisfactory. Tell that to the wildlife and humanity that will have to endure the unseen damages to the ecosystem created by the spill.
Should there be a ‘limit’ to recourse in matters of companies that cause crisis to the environment and its inhabitants?
The patchwork done, will be an eternal necessity monitoring for that region.