Wednesday 18 March 2015

Why BP plc. Have been accused by the United States government?

The US government feels that recovery of the Gulf of Mexico oil spill was not as considerable as BP claims, and that the company distorted compensation and spill size data in its favor.
BP plc. was the culprit of the biggest crude oil of the history in Gulf of Mexico in 2010, due to which almost 11 workers lost their lives and it also caused considerable destruction to the nearby environment. Carl Barbier Judge at Federal District considered the UK based company to have reacted with “gross negligence”. Because of that the company spent over $42 billion to gratify claims and cleaning costs.
The oil company previously said that its response was very effective in extenuating the adverse impacts of the shattering oil spill. Although, the United States senses otherwise. According to report by Financial Times that the government of United States alleged BP for misapprehending and mismanaging data, when the company debated that the Gulf had improved a lot faster than expected.
On Monday, the Oil giant company specified that the damages caused by oil spill did not have any long term effects to the bird species and also to the marine. The company also added that majority of the oil has been soaked by microbes or vanished in the water. BP said that no decline has been recorded in the population of birds in the year 2011.
While responding the company’s claim, NRDA criticized the company for jumping to the extensive undeveloped and unsuitable conclusion of the matter and said that BP’s assumptions are imprecise regarding the aftershocks of the disaster.
Financial Times reported: “BP Plc. misinterprets and misapplied data while ignoring published literature that doesn’t support its claims.” The NRDA mentioned that the oil spill’s negative impacts will take a lot of years to diminish. However, BP has paid $1.3 billion to NRDA for the environmental damage and it is still carrying out studies to find out the actual aftermath of the event.
After the research will be completed, an authorized process could start that will force the company to take satisfactory measures caused by the situation. Financial Times quoted the company claim related to the situation that the researches usually shows one side of the matter and overlooked the retrieval that has been done by the company.
The oil Spill took place 5 years ago, however there are still some disputes left the company and Government. Federal court earlier this year projected that almost 3.2 million barrels oil was spill rejecting the US government claim of 4.2 million barrels. The government is looking forward to challenge the decision.
As per the estimation the London oil giant can face a penalty of $13.7 billion depending on the size of the spill calculated by Judge Barbier.

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