Not Logged In Log In   Sign Up   Points Leaders
Follow Us    10:02 PM

GasBuddy News Article

22
votes
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."


Read the Full Article

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
dandvicb
Champion Author Bridgeport

Posts:3,339
Points:1,780,765
Joined:Jul 2004
Message Posted: Jan 4, 2013 5:18:19 AM

not eNOUGH!!
daequitz
Champion Author New Jersey

Posts:9,536
Points:2,161,945
Joined:Jan 2007
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?
hokieburgh
Champion Author Virginia

Posts:1,871
Points:1,141,710
Joined:Feb 2007
Message Posted: Jan 4, 2013 4:50:50 AM

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

Posts:11,823
Points:2,592,155
Joined:Apr 2007
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.
vulcan96
Champion Author Ohio

Posts:27,181
Points:3,133,135
Joined:Aug 2004
Message Posted: Jan 4, 2013 2:13:53 AM

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

Posts:2,460
Points:1,432,000
Joined:Sep 2008
Message Posted: Jan 4, 2013 2:07:17 AM

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

Posts:3,767
Points:1,060,170
Joined:Apr 2012
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.
Ahking
Champion Author Orange County

Posts:3,618
Points:625,235
Joined:May 2011
Message Posted: Jan 4, 2013 2:01:04 AM

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

Posts:8,429
Points:1,681,675
Joined:Nov 2010
Message Posted: Jan 4, 2013 2:00:20 AM

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

Posts:86
Points:71,470
Joined:Oct 2012
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]
madison8359
Champion Author Cleveland

Posts:17,694
Points:2,373,855
Joined:Apr 2008
Message Posted: Jan 4, 2013 1:55:31 AM

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

Posts:4,818
Points:2,776,845
Joined:Mar 2004
Message Posted: Jan 4, 2013 1:50:57 AM

Not nearly enough

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

Posts:12,282
Points:2,136,340
Joined:Feb 2006
Message Posted: Jan 4, 2013 1:48:37 AM

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

Posts:10,033
Points:2,352,990
Joined:May 2008
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.
otherdave
Champion Author Indiana

Posts:6,676
Points:2,050,315
Joined:Oct 2008
Message Posted: Jan 4, 2013 1:46:41 AM

Is that all???
OldMan322
Champion Author Illinois

Posts:11,036
Points:2,369,570
Joined:Jul 2008
Message Posted: Jan 4, 2013 1:45:16 AM

sounds little for the damage done
Z51Corvette
Champion Author Austin

Posts:11,163
Points:2,362,120
Joined:Jan 2008
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!
bobdec
Champion Author Miami

Posts:12,022
Points:2,515,220
Joined:May 2008
Message Posted: Jan 4, 2013 1:35:56 AM

Gas prices will have to go up
CiVX
Champion Author Oakland

Posts:10,035
Points:2,114,265
Joined:Feb 2009
Message Posted: Jan 4, 2013 1:35:34 AM

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

Posts:12,660
Points:2,008,050
Joined:Dec 2009
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.
Retowered
Champion Author Colorado

Posts:11,843
Points:3,467,565
Joined:May 2004
Message Posted: Jan 4, 2013 1:33:42 AM

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

Posts:5,934
Points:1,511,785
Joined:Mar 2011
Message Posted: Jan 4, 2013 1:28:36 AM

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

Posts:6,532
Points:1,364,685
Joined:Jul 2011
Message Posted: Jan 4, 2013 1:26:56 AM

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

Posts:5,378
Points:1,359,475
Joined:May 2010
Message Posted: Jan 4, 2013 1:26:38 AM

there goes the price of gas
furiousfowl
Champion Author Riverside

Posts:19,740
Points:3,475,795
Joined:May 2005
Message Posted: Jan 4, 2013 1:23:16 AM

hope it helps some
SkooterG
Champion Author Phoenix

Posts:3,893
Points:1,060,925
Joined:May 2012
Message Posted: Jan 4, 2013 1:20:18 AM

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

Posts:13,590
Points:2,475,620
Joined:Apr 2008
Message Posted: Jan 4, 2013 1:17:42 AM

Trickles down to the Consumer
cheapertvs
Champion Author Richmond

Posts:13,669
Points:3,523,970
Joined:Jan 2004
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.
Matt G
Champion Author Boston

Posts:7,778
Points:3,553,290
Joined:Jun 2004
Message Posted: Jan 4, 2013 1:11:13 AM

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

Posts:4,027
Points:1,107,335
Joined:Aug 2011
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?
kiss4afrog
All-Star Author Twin Cities

Posts:843
Points:485,590
Joined:Jan 2008
Message Posted: Jan 4, 2013 12:59:18 AM

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

Posts:7,040
Points:1,360,310
Joined:Sep 2011
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.
badharley
Champion Author Tampa

Posts:2,830
Points:1,119,415
Joined:Jul 2010
Message Posted: Jan 4, 2013 12:53:05 AM

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

Posts:6,545
Points:1,517,105
Joined:Jan 2011
Message Posted: Jan 4, 2013 12:51:40 AM

OK
Rednix
Champion Author Miami

Posts:9,282
Points:2,045,435
Joined:Jul 2009
Message Posted: Jan 4, 2013 12:50:32 AM

I thought it would be more.
lunarrv15
Champion Author Cincinnati

Posts:20,070
Points:3,163,410
Joined:Dec 2005
Message Posted: Jan 4, 2013 12:44:39 AM

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

Posts:4,575
Points:1,002,705
Joined:May 2012
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.
BCM1
Champion Author Pennsylvania

Posts:1,944
Points:1,204,695
Joined:Jun 2007
Message Posted: Jan 4, 2013 12:43:32 AM

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

Posts:4,399
Points:1,017,895
Joined:Aug 2012
Message Posted: Jan 4, 2013 12:42:27 AM

Where will the money go?
OGW
Champion Author London

Posts:7,135
Points:2,194,965
Joined:Sep 2005
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!
Thomtec
Champion Author Nashville

Posts:5,650
Points:1,384,155
Joined:May 2011
Message Posted: Jan 4, 2013 12:39:32 AM

dont you just love lawyers
mabrams184
Champion Author Lexington

Posts:4,155
Points:1,262,115
Joined:Aug 2011
Message Posted: Jan 4, 2013 12:39:28 AM

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

Posts:33,585
Points:1,548,670
Joined:Jan 2011
Message Posted: Jan 4, 2013 12:38:07 AM

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

Posts:8,422
Points:2,408,315
Joined:Jun 2008
Message Posted: Jan 4, 2013 12:36:07 AM

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

Posts:10,369
Points:2,135,515
Joined:Jul 2009
Message Posted: Jan 4, 2013 12:30:17 AM

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

Posts:11,478
Points:3,034,090
Joined:Jul 2006
Message Posted: Jan 4, 2013 12:28:30 AM

Who gets the money?
BobD2009
Champion Author Long Island

Posts:10,207
Points:2,006,240
Joined:Apr 2009
Message Posted: Jan 4, 2013 12:28:13 AM

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

Posts:10,269
Points:2,256,785
Joined:Feb 2008
Message Posted: Jan 4, 2013 12:26:55 AM

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

Posts:573
Points:894,640
Joined:Jun 2010
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.
heartbroken2010
Champion Author Ottawa

Posts:7,587
Points:1,678,760
Joined:Aug 2010
Message Posted: Jan 4, 2013 12:26:29 AM

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

Posts:9,548
Points:2,289,325
Joined:Jul 2008
Message Posted: Jan 4, 2013 12:24:08 AM

Consumer will pay at the pump!!
Post a reply Back to Topics