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Mon Nov 19, 2012, 07:04 AM

Give BP the Death Penalty

http://www.alternet.org/environment/give-bp-death-penalty



What does it take for a foreign corporation to get the corporate death penalty in America? That's a question we need to ask ourselves, after news broke yesterday of BP's legal settlement over its Gulf oil spill disaster in 2010.

Eleven workers were killed when their oil rig exploded, and for three months five million barrels of toxic crude gushed in the Gulf of Mexico as BP, which never made contingency plans for this sort of obvious crisis, tried to find a way to plug the hole. That oil killed marine life, blanketed coastlines, and put Gulf Coast small businesses out of business. To this day, we still don't know the long-term effects of this catastrophe on the ecosystem or our food chain, which is now contaminated with eyeless shrimp, clawless crabs, and other oil-mutated aquatic freak shows. Not to mention the human cancers that will show up in future decades.

Now, the foreign corporation responsible for all of this, BP, will just cut a small check, and then go back to business as usual, punching holes in the Gulf. It pled guilty to 14 felony and misdemeanor charges and agreed to pay a $4.5 billion fine – the largest criminal fine in our nation's history. But for a corporation that just announced it earned $5.4 billion in three months, BP knows it got off easy.

The organization Public Citizen notes , "Claims arising from the Gulf disaster, which killed 11 workers and did untold damage, put the company's liability at a minimum of $51.5 billion." That's more than ten-times what BP will end up paying to settle.

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Arrow 11 replies Author Time Post
Reply Give BP the Death Penalty (Original post)
xchrom Nov 2012 OP
dipsydoodle Nov 2012 #1
leftyohiolib Nov 2012 #10
AndyA Nov 2012 #2
Kolesar Nov 2012 #3
unhappycamper Nov 2012 #4
Demeter Nov 2012 #5
Tigress DEM Nov 2012 #6
xchrom Nov 2012 #7
Dustlawyer Nov 2012 #8
docgee Nov 2012 #9
behindenemylins Nov 2012 #11

Response to xchrom (Original post)

Mon Nov 19, 2012, 07:08 AM

1. The same could be applied

to the US government for knowingly allowing the release of tainted polio vaccine way back in the day.

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Response to dipsydoodle (Reply #1)

Mon Nov 19, 2012, 09:11 AM

10. dont forget the "gift" of blankets that was given the original americans

 

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Response to xchrom (Original post)

Mon Nov 19, 2012, 07:16 AM

2. BP is a repeat offender

Don't forget the Texas City Refinery explosion in 2005. That killed 15 and injured over 170 people.

If corporations are people, they should suffer the consequences of their actions, just like real people do. It can't be both ways, where they get the rights and benefits of person hood, but none of the negatives.

This is just a slap on the wrist for BP. There will be another accident, because they won't change their ways, it costs too much money. Better to risk worker's lives than spend money to give them a safe work place.

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Response to xchrom (Original post)

Mon Nov 19, 2012, 07:31 AM

3. BP bought Amoco, Sohio, and Gulf with no objection to the monopoly they were creating.

For that matter, Exxon bought Texaco to build a bigger monopolistic player. Despair

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Response to xchrom (Original post)

Mon Nov 19, 2012, 07:50 AM

4. $0.10 on the dollar.....

Pretty good deal for BP.

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Response to xchrom (Original post)

Mon Nov 19, 2012, 07:56 AM

5. We will figure out a way, people. Don't Despair


Because we have no alternative. There's no "living with" this kind of predator. But we are many, and clever, and adaptable. BP is none of these.

May the best predator win.

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Response to Demeter (Reply #5)

Mon Nov 19, 2012, 08:03 AM

6. Agree 1000%

There's no "living with" this kind of predator. But we are many, and clever, and adaptable. BP is none of these.

May the best predator win.

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Response to xchrom (Original post)

Mon Nov 19, 2012, 08:04 AM

7. BP Seen Takeover Target After Settlement as Value Trails

http://www.bloomberg.com/news/2012-11-19/bp-seen-takeover-target-as-valuation-sinks-on-settlement-energy.html

The onetime Mississippian and current chief executive officer has sold more than $50 billion of assets to pay the costs of the worst U.S. oil spill in history in 2010. Rescued from the brink of collapse, Europe’s second-largest oil company is now seen as vulnerable to a takeover.

BP is the cheapest of the world’s five biggest non-state oil companies by market value relative to reserves, earnings and output. As a result it may become a target, according to people familiar with the strategic thinking of the London-based company and its potential acquirers.

Dudley’s boldest move as the first American in charge of the 103-year-old British company was last month’s exit from a turbulent Russian venture in exchange for a 20 percent stake in state oil company OAO Rosneft (ROSN) and $12.3 billion in cash.

The deal solved one of BP’s two biggest challenges. The other, litigation in the U.S. over fines from the spill, came closer to a resolution last week with a $4.5 billion criminal settlement. The civil claims may vanish in a settlement before the trial set to start Feb. 25.

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Response to xchrom (Original post)

Mon Nov 19, 2012, 09:07 AM

8. I am a Plaintiff's attorney that has been fighting BP since the Texas City, Tx explosion that

killed 15 and injured thousands. The plant blew up b/c they cut corners to save some money. The lesson they learned was that we will let them keep doing it and only levy fines like we do for crooked Wall Street banks. They have bought up all documentaries from the spill before they are released. They are the biggest advertiser on the Gulf coast to the point that no victim impact stories are done b/c the stations and papers do not want to kill the goose laying the golden eggs. They tell everyone they have a 20 billion dollar fund which was not true. They own all of the (Republican) governors on the coast. That is why 80% of the claims are still waiting for an offer. They have starved these folks out and killed thousands of businesses. They sprayed Corexit to sink the oil so it could not be counted for the per barrel fines. This chemical is a mutagen that has caused sea life mutations and sterilization. There are almost no white shrimp in the Gulf, few crabs, and reduced numbers on everything else. In Brazil, they took all of the Shell executives passports when She'll had an offshore spill. Here, we have a Congressman demand our President apologize to BP even when our President has done just what BP asked. Yes, Obama sold out to BP when before the 2010 midterms people were saying the spill was becoming his Katrina. He blessed the 20 billion fund idea and gave BP the Coast Guard to use how they wanted. He has not mentioned BP since. I know there is a political game that must be played, I just thought we would get better. I still voted for Obama b/c I know Rmoney would be worse, but just so you know if you already didn't, CORPORATIONS RUN THIS COUNTRY!!!!

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Response to xchrom (Original post)

Mon Nov 19, 2012, 09:10 AM

9. Corporations are people, my friend...

So yes those murderers should get capital punishment...

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Response to xchrom (Original post)

Mon Nov 19, 2012, 09:14 AM

11. Yep

The world is a business, Mr. Beale.

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