National Fisherman

HOW MUCH should BP pay for the carelessness that led to the disastrous Deepwater Horizon oil spill in 2010?

Last week the giant oil company, the federal government and some Gulf Coast states started wrangling over that question. The parties gathered in New Orleans to begin a federal civil trial, the first phase of a process that will determine the size of the Clean Water Act fines the company must pay.

If the court finds that BP was merely negligent, the company could pay as much as $3.5 billion in fines. If the judge finds that BP was grossly negligent, the company could have to pay as much as $17.6 billion.

Whatever the figure, it would be on top of the $20 billion to $30 billion that BP already has distributed or committed to pay. It would also settle only one of many outstanding legal claims against the company. BP is still liable to pay for the environmental injury it caused, according to the results of a process called the Natural Resources Damage Assessment. Gulf states also recently demanded a whopping $34 billion in economic damages. Given all of these, the Economist calculates, BP's total Deepwater Horizon payout could reach an incredible $90 billion.

A bill anywhere near that large is impossible to justify.

Read the full story at the Washington Post>>

National Fisherman Live

National Fisherman Live: 8/14/14

In this episode:

  • More cod cuts expected if NOAA data holds
  • Louisiana importing oysters to meet demand
  • N.C. sets new sturgeon bycatch rules
  • BP appeals to Supreme Court on spill settlement
  • Senate releases new Magnuson-Stevens draft

National Fisherman Live: 8/5/14

In this episode, National Fisherman's Boats & Gear Editor Michael Crowley talks with Frances Parrott about the Notus Dredgemaster.

Inside the Industry

PORTLAND, Maine – The Maine Lobster Marketing Collaborative has appointed Matt Jacobson as its new executive director.
 
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The Gulf of Mexico Fishery Management Council will convene its Red Snapper Advisory Panel Wednesday, July 30, 2014, from 8:30 a.m. to 5:00 p.m. at the council office — 2203 N. Lois Avenue, Suite 1100, in Tampa, Fla. 

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