The
federal government is eying billions of dollars in penalties to extract
from BP for the Deepwater Horizon Gulf oil spill. Depending on the
verdict in a trial underway determining the number of barrels spilled,
the fine could vary between 3.3 and 14.1 billion dollars. In order to
follow the money you've got to follow the trial.
At the end of the month, the Deepwater Horizon trial moves to the next phase, determining the efficacy of the source control efforts and the total size of the spill. BP and the government have significantly differing estimates as to the amount of oil spilled. From the New Orleans Times Picayune we get this assessment.
At the end of the month, the Deepwater Horizon trial moves to the next phase, determining the efficacy of the source control efforts and the total size of the spill. BP and the government have significantly differing estimates as to the amount of oil spilled. From the New Orleans Times Picayune we get this assessment.
With a high-stakes trial set to resume in less than a month, BP and the federal government on Thursday offered conflicting estimates of how much oil spilled into the Gulf of Mexico after the blowout of the company's Macondo well triggered a deadly explosion.
In a court filing, BP urges U.S. District Judge Carl Barbier to use an estimate of 2.45 million barrels, or nearly 103 million gallons, in calculating any Clean Water Act fines. Justice Department experts estimate that around 4.2 million barrels, or approximately 176 million gallons, spilled into the water before BP sealed its well 86 days after the April 20, 2010, blowout. Both sides agree that 810,000 barrels, or 34 million gallons, escaped the well but was captured before it could pollute the Gulf.
The second phase of a trial designed to determine how much more money London-based BP PLC and its contractors owe for the disaster is scheduled to start on Sept. 30.
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