BP stockholders will pay fines and suffer loss of business, while senior BP executives walk away from criminal charges after 5 billion gallons of oil were spilled.
The U.S. Environmental Protection Agency today announced that it has “temporarily suspended” BP Exploration and Production, BP PLC and affiliated companies from new contracts with the federal government.
In a statement EPA said, “BP’s lack of business integrity as demonstrated by the company’s conduct with regard to the Deepwater Horizon blowout, explosion, oil spill, and response” merited the penalty.
On 15 November 2012, BP entered a guilty plea deal on eleven counts of Misconduct or Neglect of Ship Officers, one count of Obstruction of Congress, a misdemeanor count of a violation of the Clean Water Act, and a misdemeanor count of a violation of the Migratory Bird Treaty Act. The charges all resulted from BP’s conduct leading to the 2010 Deepwater Horizon disaster that killed 11 people and caused the largest environmental disaster in U.S. history.
EPA was designated as the lead agency for suspension and debarment actions for the Deepwater Horizon investigation. EPA said executive branch agencies take these actions to ensure the integrity of Federal programs by conducting business only with responsible individuals or companies. Suspensions are a standard practice when a responsibility question is raised by action in a criminal case.
The BP suspension will temporarily prevent the company and affiliates from getting new federal government contracts, grants or other covered transactions until the company can provide sufficient evidence to EPA “demonstrating that it meets Federal business standards.” The suspension does not affect existing agreements BP may have with the government.
Several low level employees of BP face criminal charges and jail pending the outcome of trial due to start next year.
See:
- BP in Plea Deal Pays $4 Billion for Deepwater Horizon Gulf Oil Spill. Highest Execs Free from Criminal Charges as Stockholders Pay Fines
- BP Fined Again, this time for Oil Spill Violations in Maryland
- Fraud Charges Filed in Gulf Oil Cleanup Employment Scam
- BP, Marathon, Exxon Mobil, Monsanto, BASF, and Other Hazardous Waste Polluters to Pay for Texas City Superfund Cleanup
- BP to Pay $13 Million More in fines for Refinery Worker Deaths
- BP Fined $8 Million for Clean Air Act Violation in Indiana
- Former BP Engineer Arrested for Obstruction of Justice in Ongoing Deepwater Horizon Criminal Investigation
- Gulf after BP Deepwater Horizon Oil Spill Needs Help
- BP to Pay $426,500, Reserve $240 Million for EPA Violations
- Big Oil has Big Day in U.S. Senate as Tax Breaks are Intact
