BP disputes Gulf spill estimates as it prepares for phase two of trial

BP (BP +0.7%) says its Macondo well leaked 2.45M barrels of oil into the Gulf of Mexico in the 2010 disaster, nearly 2M less than the U.S. government’s estimate, as it prepares for phase two of the trial over the spill, set to begin Sept. 30.

BP says the U.S. estimates are based on a "flawed approach" and "faulty assumptions," according to court filings.

The argument will make a difference of up to $7B in the penalties facing BP under the Clean Water Act, which can reach a maximum $4,300/bbl in cases of gross negligence or willful misconduct; BP has accepted its employees were negligent, implying a lower penalty of up to $1,100/bbl, but denies the other accusations.

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Comments (3)
  • Kim Lirette
    , contributor
    Comment (1) | Send Message
    I'm a shrimper I was doing fine for myself before BP OIL SPILL. I was making a living at what my family grew doing. We had bad time shrimping and good time. But not like the past three years that gone by. Now I so for in death because of this OIL SPILL BP did in our back yard. Just like to said BP didn't make it right like they keep telling the people. When will BP gone to fix the problem they cause us poor fishermen the south. It's more than time we can't keep hiding from our BILL collecter and lie to them. How long it gone to take for us to get back on our feet.
    6 Sep 2013, 04:04 PM Reply Like
  • Teddie
    , contributor
    Comments (188) | Send Message
    BP overpaid in several situations and got stomped on by trying to do the right thing. Lot of scammers exist and a lot of original claims were not backed by tax claims the prior year.


    BP should require tax claims averaging the following 3 years and then consider balance based on those requirements.


    What was your income the combined prior 3-years? Please show receipts for gas spent on the boat the prior 3-years and the following 3-years after the oil spill. Should show the gallons of petro you used to be considered for a potential claim. Please also show the employee's you employed and back that up with W2s


    We also want a weight and calculation on exactly how many shrimp you caught in the last 3-years vs the current 3-years divided by hours you spent out on the boat patrolling.
    6 Sep 2013, 08:31 PM Reply Like
  • daphnex2
    , contributor
    Comments (127) | Send Message
    BP has paid most legitimate claims and probably most illegitimate claims as well.
    7 Sep 2013, 01:22 PM Reply Like
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