Excerpts from BP's Shocking Memo, by Rick Outzen
The refinery explosion resulted in more than 3,000 lawsuits, including Coon’s, and out-of-court settlements totaling $1.6 billion. BP was also convicted of a felony violation of the Clean Air Act, fined $50 million and sentenced to three years probation. Last year, the Occupational Safety and Health Administration levied the largest monetary penalty in its history, $87 million, for "failing to correct safety problems identified after a 2005 explosion that killed 15 workers at its Texas City, Texas refinery."
and
We know that the Deepwater well lacked the remote-control, acoustical valve that experts believe would have shut off the well when the blowout protector failed. The acoustic trigger costs about $500,000. How would that stand up to a similar “Maximum Justifiable Spend” analysis (especially when BP’s liability is officially capped at $75 million by federal law)?
Image from the RNC webite