BP Doesn't Like The Deal It Cut
BP claims that $500 million of the money it set aside to compensate victims of its 2010 oil spill has been awarded to businesses that don't deserve it. Among the unwarranted claims, says BP, were an escort service in Florida, a surgical practice 300 miles from the spill and a wireless phone company that burned to the ground before the spill occurred. Scott Pelley reports the latest twist in this story that began with an oil rig explosion that killed 11 and polluted the Gulf of Mexico with over 200 million gallons of oil. Pelley's report will be broadcast on 60 Minutes, Sunday May 4 at 7 p.m. ET/PT.
Wrong or right may have nothing to do with it. Pat Juneau, the claims administrator awarding the compensation told 60 Minutes that he questioned the eligibility formula because it didn't require proof of a link to the spill. BP replied in the court record that if the numbers fit the formula "all losses...are presumed to be attributable to the oil spill... [even if] the decline was...wholly unrelated." Businesses applying need to prove only that revenues declined after the spill and picked up again a year later. Juneau says the language in the agreement signed by BP and lawyers for potential claimants gives him a mandate. "I have an obligation as a court appointed official...to implement what these two parties wrote," he tells Pelley. "And that's what they agreed to."
Full Article: http://www.cbsnews.com/news/bp-cries-foul-over-500m-in-compensation-awards/
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Nothing new with BP trying to get out of the damage they caused. Perhaps with their legion of lawyers, they didn't understand what they were signing and agreeing too./s
They (BP) made the rules and now they want the courts to rule in their favor. Typical Big Oil attitude. "Screw the public it isn't our fault", duh ya it is actually.
I've been following this, and my thought is: "Screw BP!"
What they did can never be fixed, never repaid, and never, ever, compensated for.
I have to agree Dowser, they are getting exactly what they agreed to and nothing can change that.
BP cares less about the public than they do about a gnat and you can believe that.
So much for carefully worded legal documents... they should have foreseen that everyone would take a huge hit to profits from the economic implosion of the housing bubble... *evil laugh*
That Fla escort service has suffered greatly decreased revenues ... although it may have more to do with the economy .
BP was running scared and afraid that some of their execs might actually a) go to jail, or b) be lynched if they were caught out in public. Besides, the sleazy bastards figured they'd be able to get a pass on the settlement later on, like Exxon did in the aftermath of the Valdiz fuckup...
Exactly, they are doing it in the Arctic fields as well. It is the way of Big Oil!!!!!!!!!!!!!!!!!!!!