BP Planning To Challenge Oil Spill Estimates To minimize Their Fine [Bp]

Sometimes we all should to own up to our mistakes and serve the time. But not the cultured folks at BP! In step with the NY Times, BP will challenge estimates of the oil spilled so that you can reduce their fine.

As it stands now, government estimates put the quantity of oil spilled at 4.9 million barrels because of this BP could face fines of up to $21 billion, or $4,300 per barrel, ” if courts determine that it acted with gross negligence before the accident.” BP is suggesting that that estimate is 20 to 50 percent too high, though they’ve did not offer their own estimate.

Of course BP would challenge the estimates though: it’s a shit ton of money that they have got to pay up. And if we learned anything from the oil spill , it was that BP is all big business corporation : a couple million barrels less is several billion dollars saved for them. But the issue is BP has notoriously underestimated the flow rate of their oil spill. Their early estimates had the leak at 1,000 to 5,000 barrels a day, but more detailed analysis found that it probably reached as high as 60,000 barrels a day . Rather a lot of difference.

Hopefully, the govt. won’t bend to BP’s will. [ NY Times ]

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This post is tagged: billion dollars, business corporation, estimates, flow rate, gross negligence, oil spill