Halliburton’s recent “punishment” after admitting that it destroyed evidence related to the 2010 BP oil spill is the very reason The Hill’s Ronald Goldfarb says that the “legal fiction that corporations are entities that are distinct from the parties running them” makes for terrible public policy.
When the Obama administration temporarily banned BP from federal contracts Wednesday, it pointed to BP’s “lack of business integrity” and conduct relating to the 2010 Deepwater Horizon explosion and spill. The sanction, however, has been years in the making.
The Justice Department just entered into the largest criminal settlement in U.S. history with BP. The oil giant pleaded guilty to 14 criminal counts, including manslaughter, and agreed to pay $4 billion over the next five years. This is loony.