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GasBuddy News Article

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Transocean agrees to $1.4-billion settlement in 2010 gulf oil spill

LA Times -- Offshore oil and gas drilling company Transocean has agreed to a $1.4-billion settlement with the Justice Department to resolve civil and criminal claims against the company for its role in the April 2010 Gulf of Mexico oil spill.

Transocean owned the Deepwater Horizon drilling rig leased by BP that exploded and sank after the Macondo well blew out, killing 11 workers and spewing nearly 5 million barrels of oil into the gulf.

In a statement, Transocean said that as part of the settlement, a "subsidiary has agreed to plead guilty to one misdemeanor violation of the Clean Water Act for negligent discharge of oil into the Gulf of Mexico and pay $1.4 billion in fines, recoveries and penalties, excluding interest."


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Submitted Jan 04, 2013 By: BurntOrange
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Transocean agrees to $1.4-billion settlement in 2010 gulf oil spill Back to Topics
REPLIES (newest first) Post a Reply
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dandvicb
Champion Author Bridgeport

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Message Posted: Jan 4, 2013 5:18:19 AM

not eNOUGH!!
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daequitz
Champion Author New Jersey

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Message Posted: Jan 4, 2013 5:06:53 AM

Where's that money actually going and what of it is left after the lawyers are paid?
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hokieburgh
Champion Author Virginia

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Message Posted: Jan 4, 2013 4:50:50 AM

seem to be getting off light here
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SBlouch
Champion Author San Antonio

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Message Posted: Jan 4, 2013 2:20:54 AM

Transocean got off too easy as this is just a drop in a bucket for them. Wonder where the money will actually go too.
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vulcan96
Champion Author Ohio

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Message Posted: Jan 4, 2013 2:13:53 AM

and quess where the money will come from.........
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UpSol7
Champion Author Augusta

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Message Posted: Jan 4, 2013 2:07:17 AM

How much is for the spill, and how much for 11 human lives?
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ldiggy
Champion Author Wilmington

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Message Posted: Jan 4, 2013 2:03:24 AM

I think they got off easy. That's not nearly enough money for the damage and chaos they created.
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Ahking
Champion Author Orange County

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Message Posted: Jan 4, 2013 2:01:04 AM

put that money into developing alternate energy infrastructure.
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Z06KY
Champion Author Louisville

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Message Posted: Jan 4, 2013 2:00:20 AM

Hope the attorneys don't get all the money.
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griffinfinity
Rookie Author Los Angeles

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Message Posted: Jan 4, 2013 1:59:07 AM

The fact is, the monetary damages are nothing to these companies. I'd be in favor of sentencing the executive board members of the company to serve on clean-up crews until the mess is handled...

[Edited by: griffinfinity at 1/4/2013 3:00:35 AM EST]
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madison8359
Champion Author Cleveland

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Message Posted: Jan 4, 2013 1:55:31 AM

Cheap for the damage they did.
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mrjames1818
Champion Author New Jersey

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Message Posted: Jan 4, 2013 1:50:57 AM

Not nearly enough

[Edited by: mrjames1818 at 1/4/2013 2:56:21 AM EST]
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JoeKR
Champion Author New Jersey

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Message Posted: Jan 4, 2013 1:48:37 AM

It certainly won't come out of executive bonuses!
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BEngr
Champion Author Illinois

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Message Posted: Jan 4, 2013 1:47:44 AM

All parties involved in drilling the oil well have a responsibility to pay a fine for damages.
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otherdave
Champion Author Indiana

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Message Posted: Jan 4, 2013 1:46:41 AM

Is that all???
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OldMan322
Champion Author Illinois

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Message Posted: Jan 4, 2013 1:45:16 AM

sounds little for the damage done
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Z51Corvette
Champion Author Austin

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Message Posted: Jan 4, 2013 1:39:08 AM

BOBDEC... NO! Prices DO NOT HAVE to go UP!

It's time we get realistic on costs! Penalties should go away, if the company gets it cleaned up, to many WHINERS cost everyone else down the road!
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bobdec
Champion Author Miami

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Message Posted: Jan 4, 2013 1:35:56 AM

Gas prices will have to go up
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CiVX
Champion Author Oakland

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Message Posted: Jan 4, 2013 1:35:34 AM

Just a drop of oil in the barrel and millions of barrels Ianthe gulf.
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Quick68
Champion Author Columbus

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Message Posted: Jan 4, 2013 1:34:33 AM

This is the reason that you will never see gas prices go back down. BP is selling off their stations in Ohio to Duchess Shoppe to help pay for their part in the spill.
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Retowered
Champion Author Colorado

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Message Posted: Jan 4, 2013 1:33:42 AM

That means gas is going up again.
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kgbellman
Champion Author Ann Arbor

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Message Posted: Jan 4, 2013 1:28:36 AM

Any bets on how much goes to the lawyers? 40% ? 60% ?
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thuathienhue
Champion Author Michigan

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Message Posted: Jan 4, 2013 1:26:56 AM

Wonder where the money will really go ?
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Happytalk
Champion Author Pennsylvania

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Message Posted: Jan 4, 2013 1:26:38 AM

there goes the price of gas
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furiousfowl
Champion Author Riverside

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Message Posted: Jan 4, 2013 1:23:16 AM

hope it helps some
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SkooterG
Champion Author Phoenix

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Message Posted: Jan 4, 2013 1:20:18 AM

What a mess. Everyone loses.
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nurdco
Champion Author Colorado Springs

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Message Posted: Jan 4, 2013 1:17:42 AM

Trickles down to the Consumer
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cheapertvs
Champion Author Richmond

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Message Posted: Jan 4, 2013 1:14:23 AM

Hopefully all of those in management at Transocean see the inside of a jail cell commensurate with their role in this disaster.
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Matt G
Champion Author Boston

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Message Posted: Jan 4, 2013 1:11:13 AM

And you don't think we will eventually pay that bill
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teamsimons
Champion Author South Carolina

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Message Posted: Jan 4, 2013 12:59:59 AM

One misdemeanor violation, huh?
No one goes to jail, huh?
Money solves all ills, huh?

What about the irreparable damage done to the Gulf Coast environmentally?
What about the lives of the workers who died?

What impact has all of this had on BP's gas prices or prices of petroleum products originating from Gulf Coast sources?
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kiss4afrog
All-Star Author Twin Cities

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Message Posted: Jan 4, 2013 12:59:18 AM

It's chump change to them. That's the problem.
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chuckwthompson
Champion Author Charlotte

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Message Posted: Jan 4, 2013 12:58:46 AM

And prices continue to rise. Who do you think is going to pay this $1.4 billion? That would be us, the taxpayer/consumer.
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badharley
Champion Author Tampa

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Message Posted: Jan 4, 2013 12:53:05 AM

Gas prices should be going up.
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abacus44
Champion Author Toms River

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Message Posted: Jan 4, 2013 12:51:40 AM

OK
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Rednix
Champion Author Miami

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Message Posted: Jan 4, 2013 12:50:32 AM

I thought it would be more.
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lunarrv15
Champion Author Cincinnati

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Message Posted: Jan 4, 2013 12:44:39 AM

Okay....interesting
thanks for posting on GB blog
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VikingWoman
Champion Author Washington

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Message Posted: Jan 4, 2013 12:44:04 AM

Looks like they got off easy so far. Good to see there is more to come.
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BCM1
Champion Author Pennsylvania

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Message Posted: Jan 4, 2013 12:43:32 AM

Ok. Higher gas prices are coming.
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Brucevanf
Champion Author New Brunswick

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Message Posted: Jan 4, 2013 12:42:27 AM

Where will the money go?
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OGW
Champion Author London

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Message Posted: Jan 4, 2013 12:42:09 AM

The courts should have also ordered all companies involved that they could not increase prices over the next five years which would hurt them more than the $1.4 billion fine!
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Thomtec
Champion Author Nashville

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Message Posted: Jan 4, 2013 12:39:32 AM

dont you just love lawyers
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mabrams184
Champion Author Lexington

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Message Posted: Jan 4, 2013 12:39:28 AM

How much of that will the government and lawyers get?
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wally52
Champion Author Little Rock

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Message Posted: Jan 4, 2013 12:38:07 AM

I guess that's why the gas prices have increased.
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GAS1251
Champion Author Texas

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Message Posted: Jan 4, 2013 12:36:07 AM

Now the executive branch can afford more vacations.
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comprof
Champion Author Houston

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Message Posted: Jan 4, 2013 12:30:17 AM

Total waste of money and higher fuel prices.
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camel1
Champion Author Minnesota

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Message Posted: Jan 4, 2013 12:28:30 AM

Who gets the money?
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BobD2009
Champion Author Long Island

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Message Posted: Jan 4, 2013 12:28:13 AM

Another government shake down that the consumer will pay for.
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billy44bo
Champion Author Mobile

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Message Posted: Jan 4, 2013 12:26:55 AM

It can never make up for the lost of life
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shari128
All-Star Author Iowa

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Message Posted: Jan 4, 2013 12:26:43 AM

That's great that they need to pay for the damage done. It will be passed down to us in gas price increases. They have the money to pay for it, but in the end it will hurt the consumers again.
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heartbroken2010
Champion Author Ottawa

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Message Posted: Jan 4, 2013 12:26:29 AM

somehow the lives lost seem to be forgotten here.
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skybiker
Champion Author South Carolina

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Message Posted: Jan 4, 2013 12:24:08 AM

Consumer will pay at the pump!!
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