Judge Puts Deepwater Horizon Trial on Hold
U.S. District Judge Carl Barbier, who will ultimately put a price tag on the worst oil spill in American history if the many lawsuits against BP go to trial, has given the oil giant and its many, many plaintiffs another week to reach a settlement.
U.S. District Judge Carl Barbier, who will ultimately put a price tag on the worst oil spill in American history if the many lawsuits against BP go to trial, has given the oil giant and its many, many plaintiffs another week to reach a settlement.
BP and the other companies on the hook for the 2010 environmental disaster would probably prefer to settle out of court rather than gamble on the conclusions of one man. AP estimates that the total cost for the oil giant could reach as high as $52 billion in fines and compensation. That’s probably a worst-case scenario, from the company’s perspective. A settlement would be much smaller. BP made just over $16 billion last year and has been setting aside money to pay its legal challengers.
Barbier was born in New Orleans and appointed by President Bill Clinton.
AP explains what will happen in the trial if talks don’t pan out:
If no settlement is reached, Barbier will preside over a three-phase trial that could last the better part of a year. The first phase is designed to identify the causes of the deadly blowout and to assign percentages of fault to the companies involved in the ill-fated drilling project.
Financial analysts estimate BP could wind up paying anywhere from $15 billion to $30 billion over the lawsuits, and BP’s chief executive told a British newspaper that the company has set aside $40 million [sic] to deal with fines and costs associated with the spill. An AP analysis found that the company could conceivably face up to $52 billion in environmental fines and compensation if the judge determines the company was grossly negligent.
— PZS
Wait, before you go…If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
With his reelection at stake, Barack Obama made a series of decisions to control the disaster. It's clear now just how calamitous they were.
A new probe finds Louisiana has failed to pursue millions in remediation for spills—money environmental groups say they desperately need.
A batch of corporate boards filled with sociopaths are knowingly killing us all. But one thing could end their murderous streak.
In a congressional district where voters rely on fossil-fuel jobs, it’s not easy, but it's absolutely essential.
A new investigation finds a range of industries were able to successfully mask their sponsorship of political ads on the social network.
It’s been going on since 2004, with no end in sight.
There are currently no responses to this article.
Be the first to respond.