Yesterday marked the one year anniversary of the oil rig explosion that claimed the lives of 11 men and resulted in the spillage of millions of barrels of crude oil into the Gulf of Mexico. Well, instead paying some sort of tribute to the lives lost and updating the public on what’s been done and/or being done to clean up the mess, BP files a lawsuit against Halliburton for an estimated $80 billion dollars! Nice.
BP Plc has filed for damages totaling more than $80 billion from Halliburton and Transocean a year after the Gulf of Mexico rig explosion that killed 11 workers and spewed millions of barrels of oil into the sea.
Analysts said BP had little chance of winning the cases and was more likely trying to force the companies to settle. Experts said pursuing the lawsuits could further damage BP’s reputation as well as reveal yet more embarrassing details of the way the disaster was handled.
BP’s is seeking more than $42 billion in its suit against Halliburton, which cemented the blown-out well that caused the Gulf of Mexico oil spill. It is claiming a similar sum from rig owner Transocean.
“It’s got a fairly low chance of being successful,” said one analyst who declined to be named because of the legal sensitivities around the case. “I get the feeling that there is positioning going on here for a settlement.”
BP said Halliburton concealed critical information which could have prevented the disaster.
BP did not give a figure for how much money it was seeking from Halliburton but asked for damages of up to the total cost of the spill, which BP has put at $42 billion, plus interest, legal costs and punitive damages.
“Halliburton’s improper conduct, errors and omissions, including fraud and concealment, caused and/or contributed to the Deepwater Horizon incident,” BP said in a court filing.
“Halliburton knew and understood it was misrepresenting material information,” BP added.
The suit was filed on Wednesday, one year to the day after the Deepwater Horizon rig exploded, killing 11 men. On Wednesday, BP also filed a lawsuit against rig operator Transocean.
Transocean shares were off 6.2 percent, while BP shares traded flat at 0957 GMT, against a 0.3 percent rise in the STOXX Europe 600 Oil and Gas index.
Since the outset of the disaster, BP has sought to blame its contractors, namely Transocean — a plan which PR experts said had damaged its image. The Presidential investigation into the report did criticize these companies but levied most of its criticism against BP.
Halliburton was not immediately available for comment on Thursday.
If nothing else, this is a clear indication of the corporate greed that takes precedence over living beings and the condition of the planet we’re passing along to the next generation. SMH
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