I hope the court tells them to go fuck themselves.
http://www.bbc.co.uk/news/business-24218138
QuoteOil giant BP has asked a US court to halt payments from its settlement deal over the 2010 Gulf of Mexico oil spill amid concerns about fraud control.
The blast killed 11 workers and released an estimated four million barrels of oil into the gulf.
It is the firm's latest move to stop or delay payments under a financial settlement programme.
It had expected payouts to total $7.8bn (£4.9bn), but says this has been driven up by excessive fees and bogus claims.
BP has faced about $42.4bn in charges since the disaster aboard the Deepwater Horizon drilling rig, which triggered the worst offshore oil spill in US history.
It has made two previous, unsuccessful attempts, to halt compensation payments.
It now says all payments should be halted until the court-appointed claims administrator puts efficiency and accounting controls into place.
"There is no assurance that dishonest and illegitimate claims are being detected and denied," said BP spokesman Geoff Morrell.
"Payment of such claims would cause BP irreparable injury."
The company believes the existing payout formula is too generous and compensates people who were not harmed.
It is waiting for decisions by a federal appeals court on several challenges it has made to the settlement and its payment formula.
BP says there is a risk that hundreds of millions of dollars in claims payments could be fraudulent.
Quote
Well, they may have a point.
QuoteIt now says all payments should be halted until the court-appointed claims administrator puts efficiency and accounting controls into place.
That's pretty funny.
Quote from: Ideologue on September 24, 2013, 09:10:59 PM
Well, they may have a point.
What I've read suggests they do.
Of course.
Quote from: Admiral Yi on September 24, 2013, 09:16:11 PM
Quote from: Ideologue on September 24, 2013, 09:10:59 PM
Well, they may have a point.
What I've read suggests they do.
I'm just saying, if we nationalized them, it wouldn't really be an issue.
Quote from: Ideologue on September 24, 2013, 09:22:16 PM
I'm just saying, if we nationalized them, it wouldn't really be an issue.
How's that? Then we'd be the ones on the hook to the con men and hustlers.
Quote from: Admiral Yi on September 24, 2013, 09:24:17 PM
Quote from: Ideologue on September 24, 2013, 09:22:16 PM
I'm just saying, if we nationalized them, it wouldn't really be an issue.
How's that? Then we'd be the ones on the hook to the con men and hustlers.
Rather than just electing them to office. :lol:
Quote from: Admiral Yi on September 24, 2013, 09:24:17 PM
Quote from: Ideologue on September 24, 2013, 09:22:16 PM
I'm just saying, if we nationalized them, it wouldn't really be an issue.
How's that? Then we'd be the ones on the hook to the con men and hustlers.
The distortions inherent to an adversary process would be lost, because the government would seek to care for the injuries caused by the Gulf spill in a genuine way. Worst case, the harm would be socialized, which, in a catastrophe like this, is the best way to go about it. We all benefit from
British American Petroleum's oil, we will all share in the costs.
I don't think there'd be much perverse incentivization, because the voting public still wouldn't be too fond of oil wells exploding and causing giant spills.
No Ide. Worst case there would be massive fraud on top.
Quote from: Ideologue on September 24, 2013, 09:37:49 PMthe government would seek to care for the injuries caused by the Gulf spill in a genuine way.
Lol.
Well, not the government you vote for.
Quote from: dps on September 24, 2013, 09:54:02 PM
Quote from: Ideologue on September 24, 2013, 09:37:49 PMthe government would seek to care for the injuries caused by the Gulf spill in a genuine way.
Lol.
I often feel that Obama cares for me in a genuine way.
If Obama had a son, he'd have blue hair.
I miss that. :(
Quote from: Admiral Yi on September 24, 2013, 09:40:41 PM
No Ide. Worst case there would be massive fraud on top.
What do you mean? I mean they don't have any such issues in Venezuela... oh... :Embarrass:
I heard there were some pretty spectacular claims getting through, but then again it is Louisiana. New Orleans made a lot more sense to me when a local told me to think of it as a "successful Caribbean city, not a failed American one."
Quote from: Ideologue on September 24, 2013, 09:37:49 PM
I don't think there'd be much perverse incentivization, because the voting public still wouldn't be too fond of oil wells exploding and causing giant spills.
I still don't understand why they didn't just tow the damn thing out of the environment.
I wonder if Churchill might be spinning in his grave ? :bowler:
Quote from: jimmy olsen on September 24, 2013, 08:58:09 PM
I hope the court tells them to go fuck themselves.
I don't think any of the parties has requested that relief.