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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

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dandvicb Champion Author Bridgeport Posts:1,336 Points:1,100,065 Joined:Jul 2004	Message Posted: Jan 4, 2013 6:18:19 AM Ignore dandvicb Report Abuse not eNOUGH!!
daequitz Champion Author New Jersey Posts:6,432 Points:1,408,105 Joined:Jan 2007	Message Posted: Jan 4, 2013 6:06:53 AM Ignore daequitz Report Abuse Where's that money actually going and what of it is left after the lawyers are paid?
hokieburgh Champion Author Virginia Posts:1,221 Points:489,605 Joined:Feb 2007	Message Posted: Jan 4, 2013 5:50:50 AM Ignore hokieburgh Report Abuse seem to be getting off light here
SBlouch Champion Author San Antonio Posts:8,832 Points:1,884,330 Joined:Apr 2007	Message Posted: Jan 4, 2013 3:20:54 AM Ignore SBlouch Report Abuse 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:27,142 Points:3,125,970 Joined:Aug 2004	Message Posted: Jan 4, 2013 3:13:53 AM Ignore vulcan96 Report Abuse and quess where the money will come from.........
UpSol7 Champion Author Augusta Posts:1,709 Points:783,750 Joined:Sep 2008	Message Posted: Jan 4, 2013 3:07:17 AM Ignore UpSol7 Report Abuse How much is for the spill, and how much for 11 human lives?
ldiggy All-Star Author Wilmington Posts:906 Points:315,325 Joined:Apr 2012	Message Posted: Jan 4, 2013 3:03:24 AM Ignore ldiggy Report Abuse 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:3,599 Points:621,360 Joined:May 2011	Message Posted: Jan 4, 2013 3:01:04 AM Ignore Ahking Report Abuse put that money into developing alternate energy infrastructure.
Z06KY Champion Author Louisville Posts:5,276 Points:931,465 Joined:Nov 2010	Message Posted: Jan 4, 2013 3:00:20 AM Ignore Z06KY Report Abuse Hope the attorneys don't get all the money.
griffinfinity Rookie Author Los Angeles Posts:44 Points:27,030 Joined:Oct 2012	Message Posted: Jan 4, 2013 2:59:07 AM Ignore griffinfinity Report Abuse 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:9,301 Points:1,619,045 Joined:Apr 2008	Message Posted: Jan 4, 2013 2:55:31 AM Ignore madison8359 Report Abuse Cheap for the damage they did.
mrjames1818 Champion Author New Jersey Posts:1,679 Points:2,024,780 Joined:Mar 2004	Message Posted: Jan 4, 2013 2:50:57 AM Ignore mrjames1818 Report Abuse Not nearly enough [Edited by: mrjames1818 at 1/4/2013 2:56:21 AM EST]
JoeKR Champion Author New Jersey Posts:9,599 Points:1,760,615 Joined:Feb 2006	Message Posted: Jan 4, 2013 2:48:37 AM Ignore JoeKR Report Abuse It certainly won't come out of executive bonuses!
BEngr Champion Author Illinois Posts:6,846 Points:1,606,140 Joined:May 2008	Message Posted: Jan 4, 2013 2:47:44 AM Ignore BEngr Report Abuse All parties involved in drilling the oil well have a responsibility to pay a fine for damages.
otherdave Champion Author Indiana Posts:3,530 Points:1,295,135 Joined:Oct 2008	Message Posted: Jan 4, 2013 2:46:41 AM Ignore otherdave Report Abuse Is that all???
OldMan322 Champion Author Illinois Posts:5,277 Points:1,620,180 Joined:Jul 2008	Message Posted: Jan 4, 2013 2:45:16 AM Ignore OldMan322 Report Abuse sounds little for the damage done
Z51Corvette Champion Author Austin Posts:8,602 Points:1,696,335 Joined:Jan 2008	Message Posted: Jan 4, 2013 2:39:08 AM Ignore Z51Corvette Report Abuse 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:9,099 Points:1,796,545 Joined:May 2008	Message Posted: Jan 4, 2013 2:35:56 AM Ignore bobdec Report Abuse Gas prices will have to go up
CiVX Champion Author Oakland Posts:7,141 Points:1,382,410 Joined:Feb 2009	Message Posted: Jan 4, 2013 2:35:34 AM Ignore CiVX Report Abuse Just a drop of oil in the barrel and millions of barrels Ianthe gulf.
Quick68 Champion Author Columbus Posts:8,443 Points:1,252,525 Joined:Dec 2009	Message Posted: Jan 4, 2013 2:34:33 AM Ignore Quick68 Report Abuse 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:8,712 Points:2,712,140 Joined:May 2004	Message Posted: Jan 4, 2013 2:33:42 AM Ignore Retowered Report Abuse That means gas is going up again.
kgbellman Champion Author Ann Arbor Posts:2,849 Points:758,565 Joined:Mar 2011	Message Posted: Jan 4, 2013 2:28:36 AM Ignore kgbellman Report Abuse Any bets on how much goes to the lawyers? 40% ? 60% ?
thuathienhue Champion Author Michigan Posts:3,579 Points:658,790 Joined:Jul 2011	Message Posted: Jan 4, 2013 2:26:56 AM Ignore thuathienhue Report Abuse Wonder where the money will really go ?
Happytalk Champion Author Pennsylvania Posts:2,271 Points:603,840 Joined:May 2010	Message Posted: Jan 4, 2013 2:26:38 AM Ignore Happytalk Report Abuse there goes the price of gas
furiousfowl Champion Author Riverside Posts:16,970 Points:2,769,760 Joined:May 2005	Message Posted: Jan 4, 2013 2:23:16 AM Ignore furiousfowl Report Abuse hope it helps some
SkooterG Champion Author Phoenix Posts:1,369 Points:344,185 Joined:May 2012	Message Posted: Jan 4, 2013 2:20:18 AM Ignore SkooterG Report Abuse What a mess. Everyone loses.
nurdco Champion Author Colorado Springs Posts:9,377 Points:1,721,135 Joined:Apr 2008	Message Posted: Jan 4, 2013 2:17:42 AM Ignore nurdco Report Abuse Trickles down to the Consumer
cheapertvs Champion Author Richmond Posts:10,420 Points:2,767,470 Joined:Jan 2004	Message Posted: Jan 4, 2013 2:14:23 AM Ignore cheapertvs Report Abuse 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:4,668 Points:2,799,765 Joined:Jun 2004	Message Posted: Jan 4, 2013 2:11:13 AM Ignore Matt G Report Abuse And you don't think we will eventually pay that bill
teamsimons Champion Author South Carolina Posts:2,571 Points:525,730 Joined:Aug 2011	Message Posted: Jan 4, 2013 1:59:59 AM Ignore teamsimons Report Abuse 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 Veteran Author Twin Cities Posts:426 Points:175,710 Joined:Jan 2008	Message Posted: Jan 4, 2013 1:59:18 AM Ignore kiss4afrog Report Abuse It's chump change to them. That's the problem.
chuckwthompson Champion Author Charlotte Posts:3,885 Points:603,685 Joined:Sep 2011	Message Posted: Jan 4, 2013 1:58:46 AM Ignore chuckwthompson Report Abuse 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:1,144 Points:764,965 Joined:Jul 2010	Message Posted: Jan 4, 2013 1:53:05 AM Ignore badharley Report Abuse Gas prices should be going up.
abacus44 Champion Author Toms River Posts:3,600 Points:773,040 Joined:Jan 2011	Message Posted: Jan 4, 2013 1:51:40 AM Ignore abacus44 Report Abuse OK
Rednix Champion Author Miami Posts:6,288 Points:1,302,235 Joined:Jul 2009	Message Posted: Jan 4, 2013 1:50:32 AM Ignore Rednix Report Abuse I thought it would be more.
lunarrv15 Champion Author Cincinnati Posts:15,055 Points:2,409,110 Joined:Dec 2005	Message Posted: Jan 4, 2013 1:44:39 AM Ignore lunarrv15 Report Abuse Okay....interesting thanks for posting on GB blog
VikingWoman Champion Author Washington Posts:1,440 Points:277,580 Joined:May 2012	Message Posted: Jan 4, 2013 1:44:04 AM Ignore VikingWoman Report Abuse Looks like they got off easy so far. Good to see there is more to come.
BCM1 Champion Author Pennsylvania Posts:1,879 Points:786,420 Joined:Jun 2007	Message Posted: Jan 4, 2013 1:43:32 AM Ignore BCM1 Report Abuse Ok. Higher gas prices are coming.
Brucevanf Champion Author New Brunswick Posts:1,492 Points:271,010 Joined:Aug 2012	Message Posted: Jan 4, 2013 1:42:27 AM Ignore Brucevanf Report Abuse Where will the money go?
OGW Champion Author London Posts:5,436 Points:1,556,195 Joined:Sep 2005	Message Posted: Jan 4, 2013 1:42:09 AM Ignore OGW Report Abuse 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:2,595 Points:634,420 Joined:May 2011	Message Posted: Jan 4, 2013 1:39:32 AM Ignore Thomtec Report Abuse dont you just love lawyers
mabrams184 Champion Author Lexington Posts:2,171 Points:556,230 Joined:Aug 2011	Message Posted: Jan 4, 2013 1:39:28 AM Ignore mabrams184 Report Abuse How much of that will the government and lawyers get?
wally52 Champion Author Little Rock Posts:27,755 Points:841,315 Joined:Jan 2011	Message Posted: Jan 4, 2013 1:38:07 AM Ignore wally52 Report Abuse I guess that's why the gas prices have increased.
GAS1251 Champion Author Texas Posts:5,288 Points:1,652,935 Joined:Jun 2008	Message Posted: Jan 4, 2013 1:36:07 AM Ignore GAS1251 Report Abuse Now the executive branch can afford more vacations.
comprof Champion Author Houston Posts:7,004 Points:1,383,475 Joined:Jul 2009	Message Posted: Jan 4, 2013 1:30:17 AM Ignore comprof Report Abuse Total waste of money and higher fuel prices.
camel1 Champion Author Minnesota Posts:8,405 Points:2,293,340 Joined:Jul 2006	Message Posted: Jan 4, 2013 1:28:30 AM Ignore camel1 Report Abuse Who gets the money?
BobD2009 Champion Author Long Island Posts:7,124 Points:1,266,510 Joined:Apr 2009	Message Posted: Jan 4, 2013 1:28:13 AM Ignore BobD2009 Report Abuse Another government shake down that the consumer will pay for.
billy44bo Champion Author Mobile Posts:7,328 Points:1,515,515 Joined:Feb 2008	Message Posted: Jan 4, 2013 1:26:55 AM Ignore billy44bo Report Abuse It can never make up for the lost of life
shari128 All-Star Author Iowa Posts:573 Points:877,915 Joined:Jun 2010	Message Posted: Jan 4, 2013 1:26:43 AM Ignore shari128 Report Abuse 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:4,480 Points:924,110 Joined:Aug 2010	Message Posted: Jan 4, 2013 1:26:29 AM Ignore heartbroken2010 Report Abuse somehow the lives lost seem to be forgotten here.