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>>
Callifornia crabbing: Here's a fun video shot on the decks of the Majestik while catching Dungeness crab off the coast of northern California.
Over 500 lots of seafood processing equipment formerly owned by Adak Seafood will be sold at auction on Tuesday, June 18, starting at 10 a.m. Hawaiian-Aleutian Daylight Time at the Hilton Garden Inn in Anchorage Alaska.
The equipment is located in a recently updated 250,000 square foot state-of-the-art processing facility in Adak, Alaska. Farmington Hills, Mich.-based Hilco Industrial, which conducts 75 machinery and equipment auctions in a wide range of industries annually, will conduct the auction.
Adak Seafood opened originally as Ada Fisheries in Anchorage in 1986. The facility, updated in 2005, is located on the island of Adak, the southernmost city in Alaska near the western end of the Aleutian Islands. The facility processed cod primarily, as well as halibut, blackcod, crab and pollock, Hilco says.
Alaska fisherman and commercial fisheries activist Kevin Adams was elected chairman at the Alaska Seafood Marketing Institute board of directors meeting on May 9 in Anchorage.
The governor-appointed board consists of seven members: five seafood processors and two industry representatives actively engaged in commercial fishing. Adams was appointed to fill a harvester seat by Gov. Frank Murkowski in 2004.
With 38 years of fishing experience in Bristol Bay, Adams has long been an active member in the Alaska fishing industry, ASMI says. He has worked for both the Alaska Fisheries Development Foundation and the Bering Sea Fisherman's Association, and represents Alaska fishermen on numerous boards.