Jan. 31 (Bloomberg) — BP Plc must cover some of any direct damage claims awarded against Halliburton Co. for the $40 billion in cleanup costs and economic losses caused by the 2010 oil-well blowout and Gulf of Mexico spill.
BP must indemnify Halliburton for compensatory damage claims under its drilling contract, U.S. District Judge Carl Barbier in New Orleans ruled today. London-based BP sued Halliburton, which provided cementing services for the project, in April to recover a share of any damages and costs from the spill. Any punitive damages awarded against Halliburton don’t have to be paid by BP, the judge said.
“BP is required to indemnify Halliburton for third-party compensatory claims that arise Read more
(Reuters) – Oil giant BP has lost its attempt to shift over $15 billion of costs related to the Gulf of Mexico oil spill onto contractor Transocean, increasing the possibility BP may have to foot the entire $42 billion clean up bill.
A U.S. federal judge on Thursday said BP must uphold a clause in its contract with Transocean Ltd that would shield the Swiss-based driller from compensatory damage claims related to the 2010 disaster.
That means London-based BP may have to shoulder alone compensation claims brought by Read more
Louisiana would spend $923 million on hurricane protection and coastal restoration projects during fiscal year 2013, including $161 million to pay part of the state’s share of the upgraded New Orleans area hurricane levee system, and $23 million toward the Morganza to the Gulf levee protecting Houma, according to a draft plan presented to the Coastal Protection and Restoration Authority on Wednesday.
The annual spending plan is highly dependent on two sources of money: $367 million already set aside by the Legislature for levee and restoration projects from 2008 and 2009 state budget surpluses, and a less-sure $267 million the state expects to receive from “early restoration” payments by BP for damage from the Deepwater Horizon oil spill under the federal Natural Resource Damage Assessment process.
The plan document points out that the BP money is still speculative; BP has so far committed to Read more
NEW ORLEANS — Nearly 20 months after its massive Gulf of Mexico oil spill — and just as the nation focuses on New Orleans, host of the BCS title game — BP Plc is pushing a slick nationwide public relations campaign to persuade Americans that the Gulf region has recovered.
BP’s rosy picture of the Gulf, complete with sparkling beaches, booming businesses, smiling fishermen and waters bursting with seafood, Read more
We knew there would be stories of misspent BP Settlement money handed to local and State governments, but this seems to be a choice case of bad judgment.
It’s a familiar lesson that taxpayers learn every few years: When government gets a big chunk of money, it tends to spend it quickly – and not always wisely.
Consider what happened in 2010 and 2011 when communities along the Gulf Coast suddenly got boatloads of money from BP to counter the effects of the disastrous oil spill.
Alabama, Florida, Louisiana and Mississippi received $150 million for tourism promotion, and they didn’t let it gather dust.
City officials in Pensacola, Fla., handed out $30,000 worth of sports towels and another $30,000 worth of fleece blankets at local events. Okaloosa County gave away a trip to the Super Bowl and tickets to the BCS Read more
When millions of barrels of oil spewed into the Gulf of Mexico after a blowout in the Deepwater Horizon oil rig on April 20, 2010, the beaches of Oklahoma were not covered with a sticky goo. Salmon in Washington State were unaffected, and the oysters of Chesapeake Bay kept doing whatever it is oysters do.
No, it was five states — Texas, Louisiana, Mississippi, Alabama and Florida — that bore the damage. Shorelines were soiled, marshes clogged, wildlife killed, the fishing and tourism industries damaged. Still unknown is what the longer-term effects will be.
So it only makes sense that the bulk of the money from fines paid Read more
BP Continues to be a major player in manipulating the laws that regulate how they pay for their cleanup and who gets paid what… We constantly hear corporate mouthpieces, and the politicians they support, complain about burdensome legislation and regulations standing in the way of social and economic advancement (e.g., higher profits). Indeed, the regulation bogeyman is second only to the civil jury in terms of sending CEOs, corporate lobbyists, and business-friendly politicians into a collective state of frothing hysteria.
But there is a great irony in this constant corporate carping about burdensome laws and regulations – many of these laws and regulations are drafted by business. As a recent article in Bloomberg Businessweek highlights, there is a market, called the “American Legislative Exchange Council” or “ALEC,” where businesses can get pre-written legislation or regulation that suits their needs, much like you or I would go to Walmart to buy shampoo or batteries. Need a bill that makes it harder for your competitor to break into the market? Aisle 6, right between the tort reform and tax breaks. Once in possession of this draft legislation, a company and its lobbyists can shop it to sympathetic legislators. The legislator slaps his or her name on the bottom Read more
The giant tiger prawn is more than just a jumbo shrimp. It’s a huge, hungry and highly invasive species that could pose a jumbo problem for the already embattled Gulf of Mexico ecosystem. And according to wildlife officials along the U.S. Gulf Coast, it had a very big year in 2011.
Formally named Penaeus monodon, the tiger prawn inhabits the Indian and Pacific oceans from Africa to Australia. It’s more predatory than many similar species, hiding during the day and hunting at night. It also has a ravenous appetite, helping some adults grow up to 14 inches and 23 ounces. Small groups have haunted the U.S. Gulf and Atlantic coasts since 2006, turning up in the Carolinas, Georgia, Florida and Alabama. Louisiana Read more
Dec. 5 (Bloomberg) — BP Plc accused a unit of Halliburton Co. of intentionally destroying evidence that could be used to prove the oilfield services firm shares blame for the blowout that caused the 2010 Gulf of Mexico oil spill.Halliburton Energy Services Inc. destroyed test results that showed samples of the cement used to seal London-based BP’s Macondo well, which exploded off the Louisiana coast last year, were unstable, BP said in a filing today in federal court in New Orleans.
The oilfield services provider also suppressed computer models that might prove Halliburton was at fault “because it wanted to eliminate any risk that this evidence would be used against it at trial,” BP said in the filing.BP asked the court to find that Halliburton destroyed evidence on purpose and to compel the company to turn over for third-party examination the computer used for the modeling.“Halliburton is reviewing the details of the motion filed today,’’ Beverly Stafford, a Halliburton spokeswoman, said in an e-mail. “However, we believe that the conclusion that BP is asking the court to draw is without merit, and we look forward to contesting their motion in court.’’
BP and Halliburton are suing each other over which company’s actions and decisions caused the blowout, which killed 11 workers and sparked the worst offshore oil spill in Read more
FOURCHON BEACH — At first glance, this wide, windswept stretch of sand at the southern tip of Lafourche Parish looks just as it should.
Seabirds skim above marsh grass and skip along the surf, pausing to dip their beaks into the water or peck in the mud-colored sand that sits atop the remains of a ridge formed by Bayou Lafourche sediment thousands of years ago.
Don’t be fooled, said Forrest Travirca, an inspector and caretaker of sorts for the 9.5-mile stretch of beach owned by the not-for-profit Wisner Donation, a private land trust. Read more