If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Canoe)   Geez, you spill oil ONE TIME and the US bans you from new government contracts   (cnews.canoe.ca) divider line 18
    More: Obvious, government contracts, United States, civil litigation, tax profit, power management, oil spill, Energy technology, government oversight  
•       •       •

1647 clicks; posted to Business » on 28 Nov 2012 at 6:10 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



18 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

Archived thread
 
2012-11-28 04:19:50 PM  
I dont think it was the actual spill of the oil that the federal government has their panties in a bunch; I think it more has to do with how they reacted to said spill
 
2012-11-28 04:34:56 PM  
A "criminal fine" ain't gonna hurt a corporation. The bosses still get theirs, the workers get slightly less, but even billions in fines is just money. BP plays the money game with larger sums.

What we should do is get the CEO at the time, the guy in charge of cleaning it up, and whoever else was a dick and arrest them, seize 100% of their assets including jointly owned ones, and still fine BP. Limited Liability should mean "except for the brass"
 
ZAZ [TotalFark]
2012-11-28 05:38:14 PM  
What cman said. The environmental crimes were misdemeanors. Disbarment is based on felonies. BP admitted to two types of felonies: blowing up oil well workers and misleading Congress.

I'm surprised the government is even going through the motions here. BP is in the too-big-to-fail category.
 
2012-11-28 06:15:17 PM  
So do still need to apologize for getting salt water in their crude?
 
2012-11-28 06:36:17 PM  
i.imgur.com
 
2012-11-28 06:37:17 PM  
I've always wondered if companies that have had this sort of experience and had an opportunity to learn from it in an institutional sense might be less likely than the rest of the industry to make mistakes like this again. Once burned twice shy, so to speak.
 
2012-11-28 06:41:43 PM  

JasonOfOrillia: I've always wondered if companies that have had this sort of experience and had an opportunity to learn from it in an institutional sense might be less likely than the rest of the industry to make mistakes like this again. Once burned twice shy, so to speak.


Perhaps a system of punitive fines based on net equity would be more effective. If your shares are going to lose 25% of their value due to a fine, you'd probably be a lot more careful.
 
2012-11-28 07:08:23 PM  
BP and any other oil company is automatically at a disadvantage considering that the Feds/EPA won't let oil companies drill CLOSER to shore and thus in SAFER waters, so this rather dickish move by Obama and his minions shouldn't surprise anyone.
 
2012-11-28 07:16:46 PM  

jjorsett: JasonOfOrillia: I've always wondered if companies that have had this sort of experience and had an opportunity to learn from it in an institutional sense might be less likely than the rest of the industry to make mistakes like this again. Once burned twice shy, so to speak.

Perhaps a system of punitive fines based on net equity would be more effective. If your shares are going to lose 25% of their value due to a fine, you'd probably be a lot more careful.


doglover above might be going in the right direction. Target the decision makers in their pocket book for farking up. 100% seems a little harsh, tho'.
 
2012-11-28 07:56:21 PM  

JasonOfOrillia: jjorsett: JasonOfOrillia: I've always wondered if companies that have had this sort of experience and had an opportunity to learn from it in an institutional sense might be less likely than the rest of the industry to make mistakes like this again. Once burned twice shy, so to speak.

Perhaps a system of punitive fines based on net equity would be more effective. If your shares are going to lose 25% of their value due to a fine, you'd probably be a lot more careful.

doglover above might be going in the right direction. Target the decision makers in their pocket book for farking up. 100% seems a little harsh, tho'.


Actually, we'd also be taking them off the maket. Executions might not be out of line in certain scenarios. You irradiate a residential area because you thought you could turn a quick buck by cutting corners and making a slipshod reactor? That's a lot more blood on your hands than just shooting someone premeditated. It's a real crime, not "just business" If people die because of the corporation's lawbreaking, the CEO or executives who ordered the laws broken should face real punishment. Hitting them in the money is just as a message to others. The real punishment would be sending them to life in real prison. No club fed.
 
2012-11-28 10:52:25 PM  
Any jail time for anyone involved yet? If not it's not punishment, just a cost of doing business.

/Move along citizen
 
2012-11-28 11:22:40 PM  
This isn't a big deal - it forces BP's hand, though, on all those civil cases that BP's been hoping would go away due to financial attrition. ("My bankroll's bigger than your bankroll, so I'll just keep filing until you run out of lawyering-up cash.") Now, they have to deal with them, one way or another, tout de suite if they want more U.S. government business.
 
2012-11-29 06:40:31 AM  
Great ,Watch how many of these "Government employees" will move over to become BP lobbyists help to exploit the loopholes they busy writing in the next election cycle.

Lawyers win again!

// It's like writing a healthcare bill, without funding the building of teaching hospitals.
 
2012-11-29 08:17:34 AM  

ZAZ: What cman said. The environmental crimes were misdemeanors. Disbarment is based on felonies. BP admitted to two types of felonies: blowing up oil well workers and misleading Congress.

I'm surprised the government is even going through the motions here. BP is in the too-big-to-fail category.


Don't worry, some Republican Senator will apologize to them and FOX News will say nasty things about Fartbongo.

Problem solved.
 
2012-11-29 08:50:36 AM  
I guess we all cool with the government beating the sh*t out of a private company that already paid fines and restoration funding.

BP is forced out and I wonder which well connected company moves in to fill the vacuum.

Oh look a squirrel.
 
2012-11-29 09:07:12 AM  

Dr.Mxyzptlk.: I guess we all cool with the government beating the sh*t out of a private company that already paid fines and restoration funding.


Yes, I am absolutely fine with corporations being punished for committing felonies.
 
2012-11-29 10:46:29 AM  

JasonOfOrillia: I've always wondered if companies that have had this sort of experience and had an opportunity to learn from it in an institutional sense might be less likely than the rest of the industry to make mistakes like this again. Once burned twice shy, so to speak.

________________________

March 23, 2005: Explosion at BP's Texas City, Texas, refinery kills 15 workers and injures 180 in one of the worst industrial accidents in US history. The explosion occurred when hydrocarbon liquid and vapor were released from a "blowdown stack" and ignited. BP admitted that safety procedures were ignored. BP paid over $2bn (£1.26bn) to settle legal claims from the explosion, as well as $71.6m for worker safety violations and $100m in pollution fines.

2006: Two leaks at BP's giant Prudhoe Bay oilfield in Alaska in March and August of 2006 created the largest oil spill ever in Prudhoe Bay, the biggest US oil field. The first leak spilled more than 200,000 gallons (760,000 litres) of crude oil over the tundra, and a second smaller leak forced BP to shut down production on the eastern side of the oil field. According to the US government, BP failed to heed warning signs of imminent internal corrosion. BP in 2007 agreed to pay a $12m criminal fine, $4m in community service payments and $4m in criminal restitution to Alaska.

November 29, 2009: Pipeline leaks oily material onto the tundra at BP's 30,000 barrel per day Lisburne field in Alaska adjacent to the Prudhoe Bay field. A crack in a flow line that serves Lisburne spilled around 46,000 gallons of a mixture of oil and water on to the snowy tundra.

April 20, 2010: Explosion aboard the Deepwater Horizon drilling rig kills 11 rig workers and unleashes the worst offshore oil spill in US history, with 4.9m barrels of oil released into the Gulf of Mexico. BP has agreed to pay an estimated $7.8bn to settle claims from individuals and businesses from the spill, but still faces possible civil and criminal penalties from the disaster. A federal trial in New Orleans is scheduled to convene on February 25, 2013.

July 16, 2011: Pipeline leaks oily material onto the tundra at BP's Lisburne field. BP said a pipeline ruptured during testing and spilled a mixture of methanol and oily water onto the tundra. Alaska regulators said the spill amounted to 2,100 to 4,200 gallons, affecting 4,960 square feet (460 square metres) of gravel pad and about 2,040 square feet of wet and aquatic tundra.

June 25, 2012: Explosion during maintenance on a pipeline at BP's Pinon natural gas compressor station near Bayfield in western Colorado kills one worker and injures two others.

Related Articles
Alaska to collect $255m for BP pipeline leaks
09 Nov 2012
BP rewards 'patient' shareholders with dividend rise
30 Oct 2012

I'm thinking "No."
 
2012-11-29 12:05:29 PM  
I'm thinking "No."

Wait, you're saying an industry that involves highly explosive, flamable material, which is normally under very high pressures and uses huge machines and equipment, may experience accidents?
 
Displayed 18 of 18 comments

View Voting Results: Smartest and Funniest


This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
On Twitter





In Other Media


Report