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Justice Department Reaches $18.7 Billion Agreement in Principle with BP

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In this Wednesday, April 21, 2010 file photo, oil can be seen in the Gulf of Mexico, more than 50 miles southeast of Venice on Louisiana's tip, as a large plume of smoke rises from fires on BP's Deepwater Horizon offshore oil rig. An April 20, 2010 explosion at the offshore platform killed 11 men, and the subsequent leak released an estimated 172 million gallons of petroleum into the gulf. U.S. District Judge Carl Barbier ruled Thursday, Sept. 4, 2014, in New Orleans, La., that BP acted recklessly and bears most of the responsibility for the oil spill. The ruling exposes BP to about $18 million in civil fines under the Clean Water Act. (AP Photo/Gerald Herbert, File)

In this Wednesday, April 21, 2010 file photo, oil can be seen in the Gulf of Mexico, more than 50 miles southeast of Venice on Louisiana’s tip, as a large plume of smoke rises from fires on BP’s Deepwater Horizon offshore oil rig. (AP Photo/Gerald Herbert, File)

 

(The Washington Post) – The Justice Department announced Thursday an $18.7 billion agreement with BP to settle civil claims arising from the 2010 Deepwater Horizon disaster in the Gulf of Mexico, the worst oil spill in U.S. history.

The comprehensive agreement, the largest environmental settlement ever, includes the largest Clean Water Act fine in history as well as addressing other federal and state claims.

BP will pay the settlement at a rate of about $1 billion a year for 18 years, with the first payment due in two years. The London-based oil giant said it planned to add $10 billion to the enormous $43.8 billion it had already set aside to cover costs related to the spill.

Bob Dudley, BP’s chief executive, issued a statement calling the deal “a realistic outcome which provides clarity and certainty for all parties.” He said it would provide “a significant income stream over many years for further restoration of natural resources and for losses related to the spill.”

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Antonio‌ ‌Ray‌ ‌Harvey‌

California Assembly Passes Bill Backed by Newsom to Prevent Gas Price Spikes

On Oct. 1, during a special session, the California Assembly advanced Gov. Gavin Newsom’s proposal to prevent gasoline price spikes, according to the Governor’s office and lawmakers backing the measure. The Assembly passed Assembly Bill (AB) x2-1, authored by Assemblymember Gregg Hart (D-Santa Barbara) and Assembly Majority Leader Cecilia Aguiar-Curry (D-Winters). The bill is on its way to the Senate for consideration.

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During the Special Session on Oct. 1, Asm. Reggie Jones-Sawyer (D-Los Angeles) tells his collegues that he learned that gas prices in South Los Angeles is much higher in the Colorado after recently visited the state. Screenshot.
During the Special Session on Oct. 1, Asm. Reggie Jones-Sawyer (D-Los Angeles) tells his collegues that he learned that gas prices in South Los Angeles is much higher in the Colorado after recently visited the state. Screenshot.

By Antonio Ray Harvey, California Black Media

On Oct. 1, during a special session, the California Assembly advanced Gov. Gavin Newsom’s proposal to prevent gasoline price spikes, according to the Governor’s office and lawmakers backing the measure.

The Assembly passed Assembly Bill (AB) x2-1, authored by Assemblymember Gregg Hart (D-Santa Barbara) and Assembly Majority Leader Cecilia Aguiar-Curry (D-Winters). The bill is on its way to the Senate for consideration.

If approved, ABx2-1 will empower the state to require oil refiners to maintain a minimum inventory of fuel to avoid supply shortages that trigger higher gasoline prices for consumers — and leading to higher profits for the industry.

In addition, ABx2-1 would authorize the California Energy Commission (CEC) to require refiners to plan for resupply during maintenance outages. The bill passed with a 44-18 vote, with 17 Assemblymembers not voting.

“Just last year, price spikes cost Californians more than $2 billion — forcing many families to make tough decisions like choosing between fueling up or putting food on the table,” Newsom stated. “This has to end, and with the legislature’s support, we’ll get this done for California families.”

Several members of the California Legislative Black Caucus (CLBC) voted in favor of the measure, including Assemblymembers Chris Holden (D-Pasadena), Reggie Jones-Sawyer (D-Los Angeles), Tina McKinnor (D-Inglewood), Kevin McCarty (D-Sacramento), Corey Jackson (D-Moreno Valley), Akilah Weber (D-La Mesa), and CLBC chair Lori Wilson (D-Suisun City).

During the debate, before the vote, Jones-Sawyer said high gas prices are affecting the livelihood of his constituents in South Los Angeles. He told his colleagues that gas in Denver, Colo., is $2.99 per gallon while motorists in South Los Angeles are paying $5.65 per gallon.

“I am hoping that in this legislation that we do have the teeth to ensure that people in South Los Angeles will be protected and that people will understand what we are doing today makes a huge difference in people’s lives,” Jones-Sawyer said.

Assembly Minority Leader James Gallagher (R-Yuba City) offered a solution to preventing soaring gas prices. He said the state needs more storage tanks and pipelines at oil refineries when they are conducting maintenance.

“If we are talking about having a reserve of gasoline so that we can help avoid price spikes, as has been purported, we need more storage, more infrastructure to do so,” Gallagher said. “Right now, the existing pie only takes you so far and if you hold gasoline back, prices will spike.”

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Asm. Mike Gipson Hosts Hearing on Big Sports Events’ Impact on Calif. Economy

On Oct. 2, Assemblymember Mike Gipson (D-Carson) led an Assembly Standing Committee on Arts, Entertainment, Sports, and Tourism hearing focused on the impact of various attractions, including large sporting events, on California’s tourism industry. Various guests testified about their experiences organizing events that draw large numbers of visitors to the state, including sports competitions like the NBA All-Star games, the Super Bowl, the World Cup, and the 2028 Olympic and Paralympic Games in Los Angeles.

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Courtesy of Assemblymember Mike Gipson.
Courtesy of Assemblymember Mike Gipson

By Bo Tefu, California Black Media

On Oct. 2, Assemblymember Mike Gipson (D-Carson) led an Assembly Standing Committee on Arts, Entertainment, Sports, and Tourism hearing focused on the impact of various attractions, including large sporting events, on California’s tourism industry.

Various guests testified about their experiences organizing events that draw large numbers of visitors to the state, including sports competitions like the NBA All-Star games, the Super Bowl, the World Cup, and the 2028 Olympic and Paralympic Games in Los Angeles.

Gipson said the committee aims to expand its partnership with businesses to help the travel and tourism industry.

“The members of this body have dedicated a lot of time and resources to supporting our state’s travel and tourism industry,” said Gipson. “The Legislature did as much as we could to help the industry recover from the COVID-19 pandemic. It’s important that we all have a conversation together to make sure that we move out a plan that makes sense, but also is very supportive of the work that we have ahead of us.”

Advocates and business leaders in the travel and tourism industry provided details on how the Legislature can support them with resources and opportunities to help grow the state’s economy in the next five years.

Emellia Zamani, the Director of Government Affairs and Public Policy for the California Travel Association, an advocacy organization representing several businesses, outlined the hardships presented by COVID-19.

Data provided by the association revealed that the industry experienced a loss of nearly half of the state’s 1.2 million tourism jobs, a 59% decline in visitor spending, and a 52% reduction in state and local tax revenue. The association director stated that California’s spending is expected to increase to $157 billion next year.

“As we move forward, the industry is looking for ways to remain competitive as a destination and increase our economic impact,” said Zamani regarding the industry’s future.

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Oakland Post: Week of October 9 – 15, 2024

The printed Weekly Edition of the Oakland Post: Week of October 9 – 15, 2024

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