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 for March 11, 2014
Governor Terry McAuliffe announced today the appointment of John M.R. Bull as Commissioner of the Virginia Marine Resources Commission. John Bull has been with the Virginia Marine Resources Commission since June 2007 and has been serving as Acting Commissioner since January 2014.
PORTSMOUTH, NH - The New Hampshire Fish and Lobster Festival, known locally as Fishtival, invites the community to Portsmouth's Prescott Park each September to honor, celebrate and rediscover the proud tradition of small-scale, local commercial groundfishing in New Hampshire and its valuable contribution to our local food system, local economy and local culture. Now, the mission continues with the announcement of small grants available from the proceeds of the 2013 event.