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FBN's Elizabeth MacDonald on the criminal charges being readied in the case against BP over the 2010 Gulf oil spill, and the company's defense.
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But I reference those -- a bit here but until more serious story that she's covering sports today.
The Justice Department reportedly readying criminal charges against.
-- petroleum BP employee out in the wake of that 2010 deep water gulf -- that's right.
That you know this -- that an accident that killed eleven injured seventeen.
Was this bill that was the worst in US history 600 square miles.
Eight BP took a forty point nine billion pretax charge on the banks get to whether or not there is.
That the Justice Department has.
Criminal charges against BP and BP alone at BP is not.
Talking -- giving any comments about the -- potential criminal charges.
But it is -- thirty said and it's filings that we've got this for you -- and who it's blaming NN and is preparing.
Defense and here's what it's saying and saying several companies including BP -- to the accident they're saying inadequate testing of the well quite BP and Halliburton.
Halliburton was responsible for cementing the well also citing inadequate communication between BP Halliburton.
And Transocean and BP is also is blaming an -- -- inadequate communication between Transocean and the crew.
So this is what BP's defense will be in the gulf -- -- now this.
Department of that justice move.
Basically Eric Holder announced a criminal probe and the summer 2010 so eighteen months later.
We have potential criminal charges we knew this was under way Halliburton had already disclosed in its filings that a grand jury was convened in the -- Ciena to look into this.
That these charges would be related to.
Disclosure of information yet are right correct information was provided that's exactly process of drilling this well also it always comes back to.
Not negligence.
But what did you tell where you -- nearly did he tell regulator it's as.
Act erecting and we fraudulent your disclosures to regulators.
On the risks associated with the well itself.
Now remember BP was attacks -- -- essentially low balling.
On the news that gallons of oil the barrels of oil that we're spilled I think initially said 1000 barrels per day -- because the fines they government finds that.
Or 4300.
Dollars per barrel spilled it turned out it was 62000.
Barrels a day being -- so you know that was a big deal but this seems to be separate from that -- has to do with the risky this of the well.
Whether the well was a structurally sound and clearly it was not and so.
BP is already saying look it's not just us other companies are involved and we've brought responsible for what happened with the macondo well and that disasters catastrophic event.
What it what's in what is and seeing anytime you talk that criminal charges is if these people are tried and convicted.
They will go to prison but what kind of prison sentences are we talk well they -- -- excellent.
Like the potential criminal is five years for this that -- for now that's where we're seeing.
Reports indicating that.
And you know what's interesting about this to dig in is that this this story coming out is in advance of this trial -- -- -- other words there's lawsuits coming to trial.
Brought by the city New York Ohio and the state of Louisiana and and that's the New York Ohio the pension funds that's a pension funds so those states are coming to trial and diversity now we've got the criminal -- potential criminal charges against BP.
That's glaring on what BP is dealing with in court and DP again.
Is has already spent fourteen billion dollars to clean up took a 41 billion dollar pretax charge in 2010.
And you know set aside twenty billion for claims related that's -- So in terms of business it's moving ahead with business -- it's going ahead with drilling activity in the gulf -- Max.
Yeah that's right -- and it's still there is still operating and it's still working.
You know it should continue to drill and that could that -- seem to have been the success so far what -- this debt the Justice Department.
Well they have like why would that why.
The why now is is probably taken this long and for the case together potentially but what a great credit out of Somalia and it seems that you know they brought charges criminal charges -- Americans Exxon.
Now ExxonMobil and Exxon Valdez.
And also the captain of that ship of about these so you know it's it into if it was already baked in that they were going to move on criminal charges because again they announced.
The criminal probe the department assisted in the summer 2010 and Halliburton very disclose the grand jury being convened in Louisiana to look into the -- So criminal charges against -- take.
Doesn't improve the situation but -- -- -- some people feel better never hurt their businesses hurt by this oil -- but we can never forget that's.
Hell yeah there and that deaths involved till eleven people dying at seventeen injured -- well.
Right that's given the images you're actually right and the disastrous consequences of that let me add they'll -- that didn't -- being killed in the ocean it's really quickly though because it would with so much concern about.
Supply disruptions in the Strait of Hormuz is threats by Iran you don't want -- you -- it's that.
Delicate balance that it is -- donate now at eight making it.
Easy to drill.
Off our waters or in our waters off -- -- and in the United States but also bouncing with -- -- you're absolutely right they get MVP of thirty say look we are we continue to be when the biggest offshore drillers in the United States.
And it comes at a time of course when this debates about the keystone pipeline and Saudi Arabia potentially building actually building a pipeline itself.
To avoid the Strait of Hormuz problems with Iran this is great to see and hear so much when -- Williams was an announcement that now I'm going yet you've got it right.
Got it right I know we are saying is also an -- buzz cut and says that's the way you re all loosen vessel way wrong in us thank you -- -- -- -- guys made me --
