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Thu Nov 15, 2012, 11:38 PM

BP Seen Escaping U.S. Contracting Ban After Oil Spill Settlement


(Bloomberg) BP Plc (BP), which reached a settlement with the U.S. government over the biggest oil spill in the nation's history, may escape a federal contracting ban.

In an agreement with the Justice Department announced yesterday, the London-based company will pay $4.5 billion, including a record $1.26 billion criminal fine, to end all criminal charges and resolve securities claims relating to the April 2010 well blowout in the Gulf of Mexico that killed 11 people.

While a so-called contracting death sentence is still possible, “it looks like there will be little if any suspension or debarment for BP,” said Charles Tiefer, a law professor at the University of Baltimore who specializes in contracting.

The company said in a statement that it hadn’t been informed of any plans by federal agencies to ban it from future contracts. BP was the Pentagon’s biggest fuel supplier with awards valued at about $1.35 billion in 2011. The Department of Defense has stepped up its purchases from the company. ..................(more)

The complete piece is at: http://www.bloomberg.com/news/2012-11-16/bp-seen-escaping-u-s-contracting-ban-after-oil-spill-settlement.html



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Reply BP Seen Escaping U.S. Contracting Ban After Oil Spill Settlement (Original post)
marmar Nov 2012 OP
sakabatou Nov 2012 #1
gateley Nov 2012 #2
gateley Nov 2012 #3
Volaris Nov 2012 #4

Response to marmar (Original post)

Thu Nov 15, 2012, 11:39 PM

1. FUUUUUU~!

That wretched company should... GAH!

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Response to sakabatou (Reply #1)

Fri Nov 16, 2012, 12:22 AM

2. Well said!

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Response to marmar (Original post)

Fri Nov 16, 2012, 12:25 AM

3. We let them off too easy! $4.5 Billion is NOTHING to them! WHY do the corporations always

get off easier than individuals???? They're people too -- right?

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Response to marmar (Original post)

Fri Nov 16, 2012, 12:41 AM

4. sooo...the criminal fine they have to pay TO THE GOVERNMENT...

is about as the same amount of cash they made from selling fuel to the PENTAGON in 2011...ok got it. Thanks for the Justice there, Mr. HOLDER.

Yeah, it wasent enough. BP should not be allowed access to American Customers anymore. THAT would be an appropriate punishment.

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