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NEW YORK (CNNMoney) -- BP will plead guilty to manslaughter charges stemming from the 2010 Deepwater Horizon explosion and oil spill in the Gulf of Mexico, and agreed to pay $4.5 billion in government penalties, Attorney General Eric Holder announced Thursday.
NEW YORK (CNNMoney) -- BP will plead guilty to manslaughter charges stemming from the 2010 Deepwater Horizon explosion and oil spill in the Gulf of Mexico, and agreed to pay $4.5 billion in government penalties, Attorney General Eric Holder announced Thursday.
"Oil giant BP is set to pay the largest criminal penalty in American history. The company will pay the U.S. government $4.5 billion for the 2010 Gulf oil spill. In a settlement announcement by Attorney General Eric Holder earlier today, BP agreed to plead guilty to 11 felonies associated with the deaths of the 11 people who died when the Deepwater Horizon well exploded and sank into the Gulf of Mexico.
On today’s Studio B, Judge Andrew Napolitano was critical of the government’s choice to make this a criminal case rather than a civil one. “If this had been a civil settlement, then the money would have been distributed to the people who actually were harmed […] Instead, this money goes to the federal Treasury for the government to spend how it wants.”
Believe it or not, this isn't the first time BP has had oil spills and cited for lack of safe operating procedures.
BP will probably raise fuel or oil prices now to make up for their losses (fines)
Generally here in S.E. Wisconsin, BP fueling stations charge about 10 to 12 cents more per gallon than surrounding filling stations.
Problem with the northshore area is that the BP refinery in Indiana services many other filling stations that are not BP.
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