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Post by moabiter on Jul 19, 2010 22:45:16 GMT -8
TAXES People up and down the Gulf Coast reeling from the spill disaster are surprised — and frustrated — to find out the Internal Revenue Service may take a chunk of the payments BP PLC is providing to help them stay afloat. Accountants have been trying to nail down the implications for thousands of taxpayers after President Barack Obama said BP would create a $20 billion disaster fund and provide another $100 million for oil workers who lose their jobs because of the six-month moratorium on deepwater drilling in the Gulf of Mexico. www.google.com/hostednews/ap/article/ALeqM5i-yfHJzPLDeBIhG5JDEF6VbaPR8QD9GGJJ6G0
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Post by moabiter on Jul 19, 2010 22:45:32 GMT -8
$5 Billion per year over 4 years
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Post by moabiter on Jul 19, 2010 22:50:07 GMT -8
NO LIABILITY - after the edict of no respirators for workers... Mon Jul 19, 11:06 pm ET Residents face a tough choice: whether to accept compensation from the fund or pursue legal action against BP or the other companies involved. "I'll be much more generous than any court will be, and at the same time you won't need to pay lawyers' costs," urged Feinberg. Oil has washed up on the coasts of all five Gulf states -- Texas, Louisiana, Mississippi, Alabama and Florida -- since the BP-leased Deepwater Horizon rig sank on April 22, two days after the explosion. news.yahoo.com/s/afp/20100720/pl_afp/usoilpollutionenvironmentIs this a legal settlement for devastated people, or ... disaster relief?
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Post by moabiter on Jul 19, 2010 22:52:31 GMT -8
US federal fines are $4,300.00 per barrel
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Post by moabiter on Jul 20, 2010 23:04:53 GMT -8
Wackenhut, G4S Security hired by BP to guard beaches Posted on June 29, 2010 BP is secretly disposing of the dead animals in order to avoid paying fines and compensation for killing endangered and protected species like turtles, dolphins, and brown pelicans. The sharp drop off in oxygen levels in the Gulf is forcing many sea animals into shallower waters in order to breathe, however, sharks are also following the easier prey into coastal rivers and inlets... In addition, the BP compensation fund headed by 9/11 victims compensation fund and Wall Street bailout executive compensation manager Kenneth Feinberg is giving priority to absentee condominium owners, most of whom live in Atlanta and New York, for compensation from canceled summertime leases for their beach side properties. The absentee landlords are jumping ahead of idled fishermen, crabbers, shrimpers, and tourist industry workers in receiving compensation, according to our real estate sources on the Gulf. bpoilspillcomp.wordpress.com/2010/06/29/wackenhut-g4s-security-hired-by-bp-to-guard-beaches/oilprice.com/Environment/Oil-Spills/Alabama-State-Troopers-Moonlighting-as-BP-Security-Guards.html
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Post by moabiter on Jul 30, 2010 6:11:37 GMT -8
BP to take $10 billion tax write-off for cleanup 28 July 2010 BP on Tuesday announced its intention to take $10 billion in US tax write-offs related to the cost for response and cleanup of the Gulf oil catastrophe. The oil giant penciled in losses of $32.2 billion for its second quarter earnings statement. These include $2.9 billion for its response so far and $29.3 billion in future estimated costs that the company says will cover all further damages associated with the spill. www.wsws.org/articles/2010/jul2010/spil-j28.shtml
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Post by moabiter on Jul 30, 2010 6:20:59 GMT -8
FINES cont. BP Media Clampdown: No Photos Of Dead Animals, Please First Posted: 06- 2-10 04:04 PM | Updated: 06- 2-10 06:25 PM A dead dolphin, stuffed with oil, figures prominently in the account. It's all very sad, and not a little bit enraging. As Allison KilKenny puts it: "In a sane world, a company guilty of gross negligence that resulted in the deaths of 11 workers would be under criminal investigation, and not be parading around the coast, telling the media where they can go and who they can talk to, while forbidding their clean-up crews from wearing protective gear." www.huffingtonpost.com/2010/06/02/bp-media-clampdown-no-pho_n_598119.html________________________ Endangered sea turtles are being burned alive in BP oil spill “clean-up” efforts. Bad enough, right? But why are rescue crews hired by BP to save and protect these turtles being blocked from doing so? Is this on purpose in order to burn costly legal evidence? planetsave.com/blog/blog/2010/06/24/endangered-sea-turtles-being-burned-alive-by-bp-in-bp-oil-spill-clean-up-video-interview/
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Post by moabiter on Aug 12, 2010 15:42:52 GMT -8
BP nears deal to guarantee cleanup fund to revenue Wednesday, Aug. 11, 2010 BP PLC was close to safeguarding its future in the Gulf of Mexico yester as it neared a breakthrough deal aimed at smoothing relations with the Obama administration. The deal with the White House would allow BP to guarantee its US$20-billion cleanup fund against revenues from its operations in the Gulf, which account for approximately 10% of its oil-and-gas business... The negotiations -- led on BP's behalf by incoming chief executive Bob Dudley -- continued as BP's attempt to fully seal off the once-leaking Macondo well was hampered by bad weather, delaying the drilling of the relief well by two to three days. The talks also came as it emerged that BP took out an insurance policy to cover its directors just ahead of the explosion on the rig above the Macondo well on April 20.www.financialpost.com/nears+deal+guarantee+cleanup+fund+revenue/3383333/story.html
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Post by moabiter on Aug 12, 2010 16:21:45 GMT -8
Oil spill: BP nears deal to continue drilling in Gulf of Mexico 6:00AM BST 11 Aug 2010 BP deposited the first $3bn on Monday, ahead of schedule, and has continuously said it will make further payments from ongoing operations. It is on track to sell $30bn of non-core assets, more than providing the necessary funds. But it is understood that the US Department of Justice (DoJ) is keen for some form of collateral against the fund, in case BP is beset by financial problems in the future. Although not ideal, the deal could have a silver lining for BP. It would effectively neuter a pending US House of Representatives bill aimed at preventing BP from operating in US waters by banning companies with poor safety records. www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7937882/Oil-spill-BP-nears-deal-to-continue-drilling-in-Gulf-of-Mexico.html
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Post by moabiter on Aug 12, 2010 16:23:25 GMT -8
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Post by moabiter on Aug 12, 2010 16:26:14 GMT -8
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Post by clone on Sept 17, 2010 12:16:14 GMT -8
BP settlements may shield top defendants: report WASHINGTON | Fri Aug 20, 2010 5:16am EDT (Reuters) - Those seeking a settlement from the BP $20 billion compensation fund may have to waive their rights to sue all major defendants involved with the Gulf of Mexico oil spill, not just BP, the New York Times reported on Friday... Businesses on the main highway to the beach -- but away from the shore -- would probably not be eligible, documents indicated. Experts said that could cut out businesses that were deeply affected by the spill, according to the newspaper. Feinberg is to publicly release the protocol for emergency payments on Friday and the protocol for the final settlement in the fall. Documents show eligibility terms for both protocols will be almost identical, but the burden of proof to qualify for a final settlement payment will be higher, the newspaper said. www.reuters.com/article/idUSTRE67J1F920100820
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Post by clone on Sept 17, 2010 12:19:24 GMT -8
BP claims could be under $20 billion September 14, 2010: 11:36 AM ET NEW YORK (CNNMoney.com) -- Total claims against BP could end up being less than the $20 billion the company pledged to set aside, according to incoming Chief Executive Robert Dudley. A Citigroup (C, Fortune 500) report said that analysts met with Dudley, who told them "that given current estimates of claims the $20 billion Independent Claim Fund that BP established probably exceeds calls." BP confirmed the comments. money.cnn.com/2010/09/14/news/companies/bp_citigroup_claims/index.htm
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Post by clone on Nov 5, 2010 23:12:12 GMT -8
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Post by moabiter on Dec 20, 2010 1:21:10 GMT -8
4 state AGs urge spill victims to get lawyers Sat Dec 18, 12:18 am ET NEW ORLEANS – Attorneys general in four Gulf states are urging oil spill victims to consult lawyers before accepting final payments from a $20 billion compensation fund and agreeing not to sue BP. They issued notices to claimants Thursday in Florida, Alabama, Louisiana and Mississippi. They warned residents that if they sign away their rights they can't come back and get more money, even if they suffer new damage from oil from the BP rig explosion. news.yahoo.com/s/ap/20101218/ap_on_bi_ge/us_gulf_oil_spill_claims
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