Gulf of Mexico Oil Spill Blog BP Bad Deal

BP Bad DealBP Bad Deal

BP to Pay $7.8B to Settle Deepwater Horizon Oil Spill Lawsuit. Is it a Bad Deal For Gulf Residents?

On Democracy Now!, investigative journalists Greg Palast and Antonia Juhasz examine who wins and who loses in BP’s settlement. “[BP’s] basically being told, like a bank robber — you put the money back and everything will be forgiven,” says Palast, who also investigated the Exxon Valdez settlement. Meanwhile, state and federal governments are still pursuing separate civil claims against BP for environmental damage. “That’s when we’re going to hopefully uncover those 72 millions pages of investigation that will include wrong doing not just by BP, not just by Transocean, not just by Halliburton, but by every major oil company involved offshore, and very likely based on my research, wrongdoing by the Obama administration,” says Juhasz. “It is a desire to keep that out of the public that has pushed the settlement process forward.” We also speak with Florida State University Oceanography Professor Ian MacDonald about what it means to restore the Gulf of Mexico. In the wake of the oil spill, BP pledged up to $500 million over a decade to conduct independent scientific research on the environmental effects. But MacDonald notes that, “When the oil was gushing, there were literally hundreds of ships … studying this disaster. Now as we try to learn what happened, and prepare ourselves for the next catastrophe, we have nothing like those kinds of resources present.”

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