Based on findings by President Obama's oil spill commission - BP may get off the hook from some of the most serious charges regarding their role in the Gulf disaster last year. The committee cited systemic errors for blowout of the oil well - placing the blame on multiple parties alongside BP - like Halliburton - the company that was contracted to pour the securing cement around the well - and Transocean - the company that operated the rig. Because of this - BP will likely not face "gross negligence" charges for their role in the spill - charges that could have carried severe criminal penalties and much higher fines. After this announcement - BP stocks jumped higher - the company has regained nearly 2/3 of its stock value since the Gulf spill. Prior to the spill - BP held one of the worst safety records of any oil company in the world. And now - other than a PR hit - which is likely to heal over time - BP can return to business as usual despite 11 people dying and catastrophic damage to multiple ecosystems. Lesson learned? The rich and powerful rarely answer for their crimes in this post-Reagan plutocracy.
-Thom
(Who do you blame and how should they pay? Tell us here.)
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