Does this commitment to cover expenses and damages constitute an ex gratia payment, or might underwriters have already agreed to settle some of the costs from this soon-to-be massive claim?
Whatever it constitutes, it’s called responsibility, something lacking in many segements of our society today. Instead of pointing fingers BP is willing to step up to the plate now and accept responsibility. That happens to be something we can all respect, regardless whether or not we/you are a fan of the petroleum industry. I think it sets a nice example for a change.
Exxon did the same thing you idiots! The are just words!
They are legally liable, so its not like they are saying anything. When it comes time to fully pay up, just like Exxon, they will tie people up in the courts for years.
Yeah, right…….small brains don’t know or understand that without oil you would give up:
your car, computer, roof, roads, clothes, paint, makeup, tires, fuel, defense on and on and , like BHO, bow to the Arabs.
This is first major spill in 31 yrs since PEMEX blew a well in Gulf of Mexico in 1979- Bay of Campeche- that leaked for two yrs until Americans plugged it.
Government obstacles to safe areas to drill is responsible for this cutting edge technology having to be used, and it’s failure.
Further, lets close the coal mines too.
No lets just keep drilling in the middle east – Its cheaper and safer and there is more of it and it is mre sustainable and better than ruining the coast of your own country you idiot.
It seems suspect that we have not had an offshore drilling disaster in over 2 decades until shortly after Obama allows expanded offshore drilling in the Atlantic. Modern rigs have redunfant safety mechanisms to prevent these such disasters and it seems these mechanisms were comprimised. Shutoff valves are required at the wellhead and the unmanned sub cannot locate it or the safety mechanism to stop oil flow???
If an investigation determines sabatoge, that let’s BP off the hook and points towards how “radical” enviromentalists can be.
BP will likely pay some of it, but you can bet your bippy (pun intended) that the majority of this will be funded through contractual indemnification or additional insurance coverage through contractors working on the well and the platform owner although the litigation will go on for years keeping lawyers employed and adding to the cost. They may or may not have a case, which is not for us to decide, but what’s wrong with the statement is that they’re writing checks on someone elses’s checkbook to get good publicity and they know it.
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Does this commitment to cover expenses and damages constitute an ex gratia payment, or might underwriters have already agreed to settle some of the costs from this soon-to-be massive claim?
Or is it a method of burning up an SIR?
I’m filling my gas tank on the way home from work today–(I hear that by Monday BP gasoline will be $17.00 per gallon)……..
Whatever it constitutes, it’s called responsibility, something lacking in many segements of our society today. Instead of pointing fingers BP is willing to step up to the plate now and accept responsibility. That happens to be something we can all respect, regardless whether or not we/you are a fan of the petroleum industry. I think it sets a nice example for a change.
Couldn’t agree more Rare.
Exxon did the same thing you idiots! The are just words!
They are legally liable, so its not like they are saying anything. When it comes time to fully pay up, just like Exxon, they will tie people up in the courts for years.
You people are SOOOOOO gullible.
Keep drilling, what could happen? Im so smart and its soooo safe!
Yeah, right…….small brains don’t know or understand that without oil you would give up:
your car, computer, roof, roads, clothes, paint, makeup, tires, fuel, defense on and on and , like BHO, bow to the Arabs.
This is first major spill in 31 yrs since PEMEX blew a well in Gulf of Mexico in 1979- Bay of Campeche- that leaked for two yrs until Americans plugged it.
Government obstacles to safe areas to drill is responsible for this cutting edge technology having to be used, and it’s failure.
Further, lets close the coal mines too.
No lets just keep drilling in the middle east – Its cheaper and safer and there is more of it and it is mre sustainable and better than ruining the coast of your own country you idiot.
It seems suspect that we have not had an offshore drilling disaster in over 2 decades until shortly after Obama allows expanded offshore drilling in the Atlantic. Modern rigs have redunfant safety mechanisms to prevent these such disasters and it seems these mechanisms were comprimised. Shutoff valves are required at the wellhead and the unmanned sub cannot locate it or the safety mechanism to stop oil flow???
If an investigation determines sabatoge, that let’s BP off the hook and points towards how “radical” enviromentalists can be.
BP will likely pay some of it, but you can bet your bippy (pun intended) that the majority of this will be funded through contractual indemnification or additional insurance coverage through contractors working on the well and the platform owner although the litigation will go on for years keeping lawyers employed and adding to the cost. They may or may not have a case, which is not for us to decide, but what’s wrong with the statement is that they’re writing checks on someone elses’s checkbook to get good publicity and they know it.