Seeking Alpha

The first indictment in connection with BP's Deepwater Horizon spill sets the stage for a fight...

The first indictment in connection with BP's Deepwater Horizon spill sets the stage for a fight over just how much oil was spilled. For every barrel BP spilled, a court can levy fines up to $1,100/barrel if the spill was accidental, or up to $4,300 if gross negligence. If the government can prove BP was hiding flow rates, it may sway the court to settle on a higher number for the volume of oil spilled.
Comments (4)
  • WMARKW
    , contributor
    Comments (10678) | Send Message
     
    I wonder how long for the first MF Global indictment?

     

    Where is Jon Corzine?
    24 Apr 2012, 04:52 PM Reply Like
  • Triple Double Advisors
    , contributor
    Comments (28) | Send Message
     
    Hide the flow rate? How can you hide the flow rate when there was no meter on the well?
    24 Apr 2012, 05:34 PM Reply Like
  • rasanders22
    , contributor
    Comments (579) | Send Message
     
    they can estimate and come to agreed upon number for flow rate the multiply it by time that it was flowing. But we will never know for sure.
    24 Apr 2012, 06:04 PM Reply Like
  • swish
    , contributor
    Comments (12) | Send Message
     
    Just settle this. How can you properly measure the flow rate anyways.
    24 Apr 2012, 07:56 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs