Monday, September 08, 2014

Years could pass

They keep saying that BP's Clean Water Act fine is going to help save the Louisiana coast.  I keep saying by the time we finally figure out what that fine will even be worth, there might not be Louisiana coast left to save.
Uhlmann said it is “still possible” that BP will reach a negotiated settlement with the federal government, but he noted that several pieces would have to come together, including that attorneys representing the Gulf states would be “willing to accept more modest natural resource damage awards or settlements” than they have said they are seeking.

“The settlement value of the case’s civil penalties went up, so BP is going to have to pay more next week to settle the Clean Water Act penalties than they would’ve been required to pay last week,” he said.

Industry analysts say years could pass before BP is forced to start paying the fines, given the anticipated appeals process and its likely effort to negotiate to make the payments over a span of several years.

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