As we approach the six-year anniversary of the Deepwater Horizon oil rig explosion that killed 11 people and devastated much of the Gulf of Mexico ecosystem, recent news stories paint a very clear picture that no one has learned anything from this disaster.
On Monday of this week, the U.S. Department of Justice announced that BP will pay $20 billion in civil and federal penalties and fines resulting from its role in the oil spill. This total amount was approved by Judge Carl Barbier who has overseen much of the litigation from the Deepwater Horizon disaster. Judge Barbier ordered that the $20 billion, which includes a $5.5 billion Clean Water Act violation fine, be paid out over 16 years at a rate of $1.3 billion per year.
In response to the deal, Attorney General Loretta Lynch made the following statement: “Today’s action holds BP accountable with the largest environmental penalty of all time while launching one of the most extensive environmental restoration efforts ever undertaken.”
But here’s the story that the Justice Department didn’t want the public to know: 75% of this fine is tax deductible for BP, meaning that U.S. taxpayers will foot most of the bill for the largest oil spill in history.
In the wake of the EU referendum, there emerged a slew of articles discussing how Brexit might give rise to a ‘fracking free for all’.
And as we...