Important Daily News You Need to Know, Today’s Issue: BP’s Negligence

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In May 2010, a few weeks after the Deepwater Horizon oil spill began, President Obama calmed the public’s fears regarding the obviously escalating cost of the cleanup.  He said that he would personally guarantee that the British oil giant paid for the full cost of its mess.  He also said that he would guarantee that BP kept its promise to the people of the Gulf Coast and paid out all legitimate financial claims with alacrity.  More important than anything else, the White House and BP assured the American people that they were doing anything and everything they could to protect beaches, lessen environmental damage, and clean up the spill. 

In just a few short months the American people have learned that much of what was said in the spring was forgotten during the summer. 

BP has not adequately cleaned up the spill, nor has it been able to protect wild life along the coasts or in the open sea.  The use of chemical oil dispersants is believed by most scientists to be far worse than an equivalent volume of crude oil.  Furthermore, the oil spill still has not been contained at the seafloor.  New leaks have been found, and after more than ten weeks of failed attempts the flow has not been entirely capped. 

Making matters worse, BP has already failed on its promise to promptly fund all financial claims resulting from the spill.  The oil giant spared no expense when it came to funding television and radio commercials and building a claims website.   

However, according to Examiner.com, the company has yet to capitalize the escrow fund President Obama had established for financial victims.  Kenneth Feinberg, the man tapped by the White House to oversee the claims process, said in no uncertain terms that “BP is stalling claims.” 

BP is failing in its cleanup efforts, and failing to let outside observers review their techniques.  It is maintaining a shroud of secrecy around all of its Gulf of Mexico operations.  It is defrauding the victims by stalling their claims and hoping that it can simply wait longer than they can. 

On top of that, the company has managed to find a way around paying for the cost of the cleanup. 
According to Reuters, the oil giant has stated its intention to write-off roughly $10 billion of the Gulf of Mexico cleanup cost on its taxes.  This write off does not actually take money out of the people’s pocket, but it does take money away from the government.  That means $10 billion more added to the deficit for next year, and $10 billion more that we either have to cut from social services or make up for with foreign loans.  Eventually, the ripples will get back to the people. 

BP intends to deduct cleanup costs, criminal penalties, and its payouts to those afflicted by the spill from its taxes.  It has already perfected the art of gross corporate negligence, and it continues to cover up the actual extent of what could be one of the worst human-induced disasters in world history.   

Meanwhile, the American people, the people of the Gulf Coast, and untold scores of animals with whom we share this planet, will be forced to suffer all so one mega-corporation can make a buck.

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