BP to Pay $7.8 Billion to Settle Deepwater Horizon Oil Spill Lawsuit -- Is the Company Getting Off Too Easy?
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AMY GOODMAN: Greg Palast, BP stocks are up with news of the settlement coming out.
GREG PALAST: Yeah, it’s a miracle for BP. It’s gold for BP. They’ve literally saved billions. There’s no punitive damages. The trial doesn’t open them up to other problems. If we had a trial and got the information—for example, Shell Oil—and BP is going to join them—have just been given Obama administration approval to drill in the Arctic Sea above the North Slope of Alaska. We have to know whether these guys are capable of dealing honestly with this. It’s not even a question of whether we have—they have the equipment. But they lied to us in the Gulf about the equipment that they had. They lied to us about prior blowouts. This is a company in which fraud is endemic.
AMY GOODMAN: We’re going to have to leave it there. Greg Palast, investigative reporter; Professor Ian MacDonald, Florida State University; Antonia Juhasz, her book is called The Black Tide: The Devastating Impact of the Gulf Oil Spill.