Monthly Archives: March 2014

BP Bail Fail – UPDATED

The corporation that virtually destroyed half the Gulf of Mexico by spilling millions of tons of oil into it tried this week to get out of its responsibility – and previous agreement – to pay for at least some of the damage it caused.

Last week, [the 5th Circuit Court of Appeals] rejected [British Petroleum]’s attempt to stop businesses in the Gulf from collecting on losses resulting from the 2010 oil disaster. BP claimed that the companies were trying to recover “fictitious losses,” but the New Orleans court didn’t buy it. In a 2-to-1 ruling, the judges upheld an earlier ruling against BP, and said that an injunction on BP payments to Gulf businesses should be lifted. These payments are part of a settlement that BP agreed to back in 2012 – a settlement that the oil company said was “good for the people, businesses and communities of the Gulf, and in the best interests of BP’s stakeholders.”

This is just s-o-o-o corporate America. First they lowball damage estimates, then they make promises they have no intention of keeping, then they attack the victims by claiming they’re perpetrating fraud, and finally they send their high-priced lawyers to convince the courts to let them off the hook when the damages turn out to cost more than their original, absurdly low, estimate. Corporate America takes NO responsibility for its actions unless forced to by the courts (an increasingly rare outcome, btw) and even then never stop trying to get out from under. Continue reading

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