BP Settlement of $4 Billion from Anadarko in Oil Spill

Filed in Gather News Channel by on October 17, 2011 0 Comments

Anadarko has reached a BP settlement of $4 billion in the Gulf of Mexico oil spill. In the case of the disastrous environment-ruining spill, BP was 65 percent responsible, leaving Anadarko with 25 percent of the responsibility and Mitsui with 10 percent.

BP Settlement of $4 Billion from Anadarko in Oil SpillThe BP settlement is actually cheaper than the $10 billion Anadarko would have to pay if it ended up being fully 25 percent liable for the oil spill last year. Of course, if the case had gone to court and BP had been held completely liable, then the company could have been stuck with the entire bill, so the $4 billion was probably a smart compromise for everybody involved.

The saddest thing about the BP settlement is that sometimes money does not fix everything. Things will never be the same after the massive oil spill in the Gulf of Mexico. Sea life and people have been affected by the serious disaster, and while money is needed to clean things up, it will not fully make up for what happened.

Even though this BP settlement has been reached, all the companies involved will still be liable for any government fines that are levied because of the massive oil spill. What do you think? Is the $4 billion enough? Can anything ever be enough?

Like this article? See more by Kate James at Gather.com

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