Chemical Safety Board to Present its Deepwater Horizon Investigation Findings
Posted By Arnold & Itkin, LLP on Jul 9, 2012 9:34am PDT
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The JIT also concluded that little has changed since the accident in terms of regulatory controls designed to make drilling operations in the region safer. In April of this year, the JIT (now referred to as the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling) released a report giving grades to various regulatory bodies for making efforts to improve industry safety. The Obama administration received a B, the oil industry a C+ and Congress a shocking D grade for its "inability to enact any legislation responding to the explosion and spill."
Because the CSB is an independent federal agency, its findings on the incident are expected to go farther than other agencies did in assessing whether lax offshore drilling regulation contributed to the Gulf Oil Spill disaster. The findings of its report will be presented on the second day of the hearing, with the first day being devoted to hearings on process safety monitoring in the petrochemical and refining industries, seven years after the BP Texas City refinery explosion...
The JIT also concluded that little has changed since the accident in terms of regulatory controls designed to make drilling operations in the region safer. In April of this year, the JIT (now referred to as the National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling) released a report giving grades to various regulatory bodies for making efforts to improve industry safety. The Obama administration received a B, the oil industry a C+ and Congress a shocking D grade for its "inability to enact any legislation responding to the explosion and spill."
Because the CSB is an independent federal agency, its findings on the incident are expected to go farther than other agencies did in assessing whether lax offshore drilling regulation contributed to the Gulf Oil Spill disaster. The findings of its report will be presented on the second day of the hearing, with the first day being devoted to hearings on process safety monitoring in the petrochemical and refining industries, seven years after the BP Texas City refinery explosion...
BP nearing ?7.4bn disaster deal (11.5 billion US dollars).UK News - News - WalesOnline
Oil giant BP is reportedly nearing a ?7.4 billion settlement with US authorities as it seeks to draw a line under the Deepwater Horizon disaster.
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But this figure includes just 3.5 billion (?2.2 billion) to cover charges under the Clean Water Act, which could rise to up to 17.5 billion US dollars (?11.2 billion) if BP is found grossly negligent.
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The Obama administration, which is keen to use the settlement as a potential vote winner ahead of the presidential election, is understood to be pushing for 25 billion US dollars (?16 billion) but both sides are thought keen to reach an agreement.
A deal would be seen as a coup for chief executive Bob Dudley, who is under pressure to revive the company's fortunes...
[snip]
But this figure includes just 3.5 billion (?2.2 billion) to cover charges under the Clean Water Act, which could rise to up to 17.5 billion US dollars (?11.2 billion) if BP is found grossly negligent.
[snip]
The Obama administration, which is keen to use the settlement as a potential vote winner ahead of the presidential election, is understood to be pushing for 25 billion US dollars (?16 billion) but both sides are thought keen to reach an agreement.
A deal would be seen as a coup for chief executive Bob Dudley, who is under pressure to revive the company's fortunes...
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