BP agrees to pay the largest fine in history for the devastating gulf oil spill of 2010

Standard

BP has finally taken responsibility for the devastation and death resulting from the 2010 Gulf of Mexico oil spill. An anonymous source who is familiar with the company reported that BP  has agreed to pay $4.5 billion dollars which is the largest criminal penalty in history.

BP has agreed to plead guilty to charges including 11 felony counts of misconduct related to the deaths of 11 men in the rig explosion that triggered the oil spill. It also pleaded guilty to a felony count of obstruction of Congress.

Considering that BP is one of the largest companies and profits approximately $5.5 billion per quarter, I don’t think that the fine is too much. The devastation caused by the 85 day long disaster involving the 206 million gallons of crude oil and the lives, wildlife, and resources affected can’t be repaired with a costly fine, but hopefully the money that will be paid in fines will go towards trying everything possible to get the area back to normalcy.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s