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>>

Inside the Industry

(Bloomberg) — Millions of dead fish stretched out over 200 kilometers of central Vietnamese beaches are posing the biggest test so far for the new government.

The Communist administration led by Prime Minister Nguyen Xuan Phuc has been criticized on social media for a lack of transparency and slow response, with thousands protesting Sunday in major cities and provincial areas.

Read more...

The Bristol Bay Regional Seafood Development Association released their board of directors election results last week.

The BBRSDA’s member-elected volunteer board provides financial and policy guidance for the association and oversees its management. Through their service, BBRSDA board members help determine the future of one of the world’s most dynamic commercial fisheries.

Read more...
Try a FREE issue of National Fisherman

Fill out this order form, If you like the magazine, get the rest of the year for just $14.95 (12 issues in all). If not, simply write cancel on the bill, return it, and owe nothing.

First Name
Last Name
Address
Country
U.S. Canada Other

City
State/Province
Postal/ Zip Code
Email