Also in this playlist...
This transcript is automatically generated
-- lead counsel for Exxon plaintiffs in the Exxon Valdez case this is what he wrote in the Washington Post I'm quoting now.
The 21 years my legal Korea focused on a single episode of bad driving.
In March 1989 captain Joseph Hazelwood ran the Exxon Valdez of ground in -- He joins the company now so welcomed the -- good to have you with us.
Good morning I have that with a financial program a straightforward financial question to get -- going.
How much do you think the loyalists and take off BP.
Over this incident I don't care what the timeframe is what do you think that going to be forced to -- I think they'll pay and in the neighborhood of six or seven billion dollars.
That's it it's I would have full mall on the grounds that -- would cost of tong.
The fines for each ballot bowl I would -- -- -- -- six or seven billion.
I thought I was the six or seven billion -- for private plaintiffs.
The elements that they'll pay will be for the cleanup which will be expensive it could be as much as against six or seven billion dollars.
They'll pay fines but the -- won't be much.
I think the government in the end we'll go soft on BP.
Event I think they'll pay the private plaintiffs another six or seven billion dollars.
They will settle all day -- they will not go to court on this thing.
Well I would hope that they -- I think in the in the long run that's the best thing.
Every day there in court and if there in court like Exxon was for 21 years -- -- day of bad publicity.
So I would think in the end though -- pay those they hurt.
Too early should be eating on office to determine what exactly it is we're suing because the full effects yet.
Well we don't -- that's one of the things about oil spills the and oil as unpredictable as to where Gholston it's unpredictable after what it hurts.
The the Valdez spell.
Eventually traveled with distance that was equal to the West Coast of the United States.
Some creatures -- the oil had little effect on and other creatures the -- just decimated their populations.
Out here we have instead of rocky beaches like we had an Alaska we have.
One of the great -- in the world.
Marshes wetlands and sandy beaches saw this -- -- I'm not all of seven -- is going to be one heck of a mess I've Bryant and he said that you think the government gonna go soft.
On BP that really surprises me what -- -- soft because so far it seems like it's been anything but.
While the government really hasn't done anything to BP at all yet solid but they don't talk.
But I think oil was extricated the -- strategic importance.
That in the end of the government well wolf -- -- it's criminal actions against BP if it brings any criminal actions.
And wolf settle a civil -- relatively cheaply because.
Oil is what makes the universe go around.
You know it's one thing or another to have bank failures but oil is the real deal.
-- -- -- give I've just got some breaking news on this subject Bryant at BP has just announced that yesterday it captured 111000.
Barrels of oil up from.
Maybe 101000 on the Saturday so I guess you could pull -- marginally improve news.
Do you have any reaction to that it -- these developments as we capture more more of this oil.
Well I don't think in the end a lot of that is going to be captured we know in 1989 and 1990 that Exxon.
Which is good at what it does.
Spent two billion dollars to pick up 8% of the oil.
So there are not going to be huge amounts of oil letter picked up we have to try to pick it up we have to try to -- that.
But in the end that oil is gonna hit Marshall and some beaches.
One soils in the water you can't pick it up.
Okay Brian we got to leave you with that one number six to seven billion dollars will be taken off BP out the end of the day from private plaintiffs brought -- -- I -- very much for joining us and we do appreciate it thank you I got --
Filter by section