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BP, Others, Sued By US Government Over Gulf Of Mexico Spill

Tyler Durden's picture




 

Just out - BP is being sued by the US government. The suit is originating in a New Orleans court. Update: other firms sued include Transocean, Anadarko, Moex, and BP insurer Lloyd's. From Reuters: US seeks unspecified damages under clean water act, oil pollution act. US asks judge to hold companies liable without limits. Halliburton, Cameron International not included in Obama administration complaint.

From Reuters:

The Obama administration sued BP Plc and four other companies tied to the Gulf of Mexico
oil spill on Wednesday, charging violations of U.S. environmental laws,
in the opening salvo in what will likely be a lengthy legal battle.

The lawsuit seeks damages from
BP, Transocean Ltd, Anadarko Petroleum Corp, Mitsui & Co Ltd unit
MOEX and BP's insurer Lloyds of London for their roles in the worst oil
spill disaster in U.S. history.

The
Justice Department asked a federal judge in New Orleans overseeing the
litigation related to the oil spill to hold the companies liable, except
for Lloyds, for unlimited damages, beyond the $75 million cap under the
U.S. Oil Pollution Act.


 

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Wed, 12/15/2010 - 14:49 | 808757 Cognitive Dissonance
Cognitive Dissonance's picture

IMHO this law suit was filed simply to maintain the illusion that the government is on your side fighting against those big bad oil companies. And it never hurts to have some leverage even on your best friend.

Nothing to see here somove along people or I might just tazer you. 

Wed, 12/15/2010 - 14:51 | 808768 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Who filed the suit exactly?

Wed, 12/15/2010 - 15:02 | 808796 Cognitive Dissonance
Cognitive Dissonance's picture

The Justice Department sues BP, Transocean and all those damn fish/sea gulls/turtles for getting in the way on behalf of "we the people".

I feel safer already.

Wed, 12/15/2010 - 15:03 | 808808 Sudden Debt
Sudden Debt's picture

unless you make 500K a month and are connected, that "we" doesn't include you.

Wed, 12/15/2010 - 15:09 | 808830 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Well expect they will sue for trillions of dollars and help create some stability in a gulf ravaged by poisonous toxins.  I am sure the "Just Us" Decompartmentalizers will do what is right.

Wed, 12/15/2010 - 14:54 | 808782 doomandbloom
doomandbloom's picture

...yes...similar to the lawsuits that will soon be bought against Hedge fund managers for insider trading...

 

Not sure how much info Julian Assange will leak but my guess is that an offer has been made to Julian ...where the interested parties will guarantee  him a)Significant publicity,b)Autobiography,c) Movie rights, d)Women & e) Millions

In return all he has to do is--- avoid releasing a very small set of information---( most likely the banks).

lets see how that pans out...

Wed, 12/15/2010 - 15:37 | 808958 apberusdisvet
apberusdisvet's picture

 

Julian gets 20 Irish women of his chice; it's all interconnected, dontcha know.

Wed, 12/15/2010 - 15:04 | 808807 Problem Is
Problem Is's picture

Since Halliburton wasn't sued, maybe it's a de facto trade war via lawsuit...

<zzzzzzzzz-ZAP>

Easy with the taser there CD...

Wed, 12/15/2010 - 15:08 | 808828 Cognitive Dissonance
Cognitive Dissonance's picture

I don't care how fat and out of shape I am, you can't outrun the taser Bro.

Wed, 12/15/2010 - 18:20 | 809676 Problem Is
Problem Is's picture

Yeah but I sure got a woody running from your fascist ass...

I'm havin' me a cold PBR when I get back to the stands...

Wed, 12/15/2010 - 23:15 | 810552 Buck Johnson
Buck Johnson's picture

Spot on, spot on.  I guarantee you during the summer when the spill was happening and they agreed to the 20 billion dollar fund, their lawyers made it clear that they couldn't get sued by anybody and even the US.  If this is the case, then the British will sue the American oil company that had a spill on it's shores two decades ago for more than what was paid out.  This is just for show nothing more.

Wed, 12/15/2010 - 14:49 | 808759 Gubbmint Cheese
Gubbmint Cheese's picture

Why sue? Didn't it all evaporate?

 

/snark

Wed, 12/15/2010 - 14:51 | 808767 SheepDog-One
SheepDog-One's picture

Official report was 'all oil magically went away'...sue over what?

Wed, 12/15/2010 - 15:24 | 808898 A Nanny Moose
A Nanny Moose's picture

It vanished into Fannie/Freddie, or in the "Cyber-Sphere" with the bad mortgage debt.

Wed, 12/15/2010 - 15:01 | 808794 Sudden Debt
Sudden Debt's picture

IT DIDN'T EVAPORATE!!!!

 

jezus....

 

IT DESOLVED IN THE WATER!!! BIG DIFFERENCE!!

 

doesn't anybody read the propaganda anymore?

Wed, 12/15/2010 - 14:49 | 808761 goldmiddelfinger
goldmiddelfinger's picture

And all i had heard was that Bush did it!

 

Wed, 12/15/2010 - 14:50 | 808764 SheepDog-One
SheepDog-One's picture

LOL, who is the Gooberment trying to fool here? How about investigating GS for shorting BP like mad a week before the 'spill'? And include Halliburton too for purchasing Boots and Coots very conveniently a couple weeks before the spill in miraculous foresight? WTF people...

Wed, 12/15/2010 - 14:59 | 808795 Cleanclog
Cleanclog's picture

What he said.

Wed, 12/15/2010 - 14:52 | 808769 ATM
ATM's picture

So what was the $25 billion fund that Obama's little buddy gets to dole out for?

Wed, 12/15/2010 - 15:05 | 808815 SheepDog-One
SheepDog-One's picture

I thought BP already paid their fine...now they get sued? So this Gubment just makes up whatever rules it likes as it goes along now huh? 

Wed, 12/15/2010 - 15:04 | 808818 Sudden Debt
Sudden Debt's picture

well, normally that money would have went to the bagholders shareholders and now the BP directors get to put it in their own pockets TAXFREE.

 

Wed, 12/15/2010 - 14:53 | 808779 fuu
fuu's picture

Didn't they get immunity?

Wed, 12/15/2010 - 15:08 | 808827 Sudden Debt
Sudden Debt's picture

they did. But after investigation, it's now proven that the mailboy at the BP headoffice is responsible for all of this and will need to go to jail for 3000 years.

He also spilled some coffee 5 month ago, so how much more proof do you want?

 

Wed, 12/15/2010 - 14:53 | 808780 Xibalba
Xibalba's picture

Funny, as it was the US Coast Guard, local police forces, that helped BP cover up all the evidence.  More theatre inbound.  Get your popcorn. 

Wed, 12/15/2010 - 14:57 | 808788 LongSoupLine
LongSoupLine's picture

Can't be "breaking news" or it would be on CNBS bumping the BIG "Volt" story

Wed, 12/15/2010 - 14:58 | 808790 Sudden Debt
Sudden Debt's picture

I'm confused... all those photo-shoots... all that PR and advertising...

did BP's last check to Obama bounced?

Wed, 12/15/2010 - 15:01 | 808802 LawsofPhysics
LawsofPhysics's picture
  • This just in from the spy-net;
  • Obama;  How about you give us 15 trillion and we call it even? 
  • BP executive;  What? Hey, how did you get in here?
Wed, 12/15/2010 - 15:08 | 808813 CD
CD's picture

Not to worry, already priced in -- BP shares still coasting along near their highs (post-spill highs, but nevertheless).

"Halliburton, Cameron International not included in Obama administration complaint"

As if more confirmation were needed as to the veracity of the effort... PS: I still love the contextual ads served... It is reassuring to know that our national reeducation, sorry professional training programs are continuing apace: we can all get American Military University

 

"Emergency and Disaster Management Online Degrees & Certificates"

Recipients of online disaster management degrees will be particularly needed and sought after when the next such event goes down...

 

 

 

 

 

Wed, 12/15/2010 - 15:06 | 808824 TWORIVER
TWORIVER's picture

Mkt sucking wind on dead cat bounce, watch CAT as it is a Reversal candidate below 91.5 close.

Wed, 12/15/2010 - 15:08 | 808826 spank-of-america
spank-of-america's picture

The oil industry and government is filled with people as crude as they come, completely unrefined. The guys at BP are self-serving jerks who suck the country dry and use money to grease the wheel in Washington. Do you really think that the government will burn the midnight oil to drill any of these guys?   Whatever the case, these grease-balls were pretty slick to have gotten away with this crap for so long. This story will probably run out of gas pretty quickly but if more information comes down the pipeline it is only going to fuel people's hatred for the government and BP.

Wed, 12/15/2010 - 15:10 | 808831 shushup
shushup's picture

Even this news isn't hurting those stocks much. This market is unbelievable.

Wed, 12/15/2010 - 15:14 | 808846 trillion_dollar...
trillion_dollar_deficit's picture

Love how the gubmint can sue you but you can't sue the gubmint.

Wed, 12/15/2010 - 15:15 | 808848 Mercury
Mercury's picture

Watch what the UK government does.  I doubt they'll stay on the sidelines if things start to look expensive for BP.

Wed, 12/15/2010 - 15:16 | 808856 Drag Racer
Drag Racer's picture

I was waiting for something like this. What a sham just to drop the stock value of the company so Shell can buy it out cheap.

Of course they had to leave halibutsuc out of it so they can still deliver the low priced soda and nice fresh water for our troops...

Wed, 12/15/2010 - 15:20 | 808874 goober
goober's picture

There are no markets, just the illusions of such.

Wed, 12/15/2010 - 15:23 | 808893 Drag Racer
Drag Racer's picture

This crap will also draw a lot of attention away when they pass the budget bill with S510 hidden in its guts, fraudclosure mess, and commodity position limits will get stunted...

Wed, 12/15/2010 - 15:23 | 808896 tony bonn
tony bonn's picture

i love the liability without limit part even though it means that the fed will bail out the bp....

and we know why the evil haliburton is not named - not because they were not involved but because obama's twin brother george and dick have intervened.

capital punishment for bp.

Wed, 12/15/2010 - 15:28 | 808918 The Pierogi King
The Pierogi King's picture

Have to cover the healthcare bill somehow!

Wed, 12/15/2010 - 15:28 | 808919 Raymond K Hassel
Raymond K Hassel's picture

Thx Tyler - bot Jan 40 puts within minutes of ZH's timely news update - so its a fucking casino, give me the patience to accept what I cannot change.  Up 53% in under 20 minutes.

Wed, 12/15/2010 - 15:31 | 808929 Critical Path
Critical Path's picture

No surprise on Halliburton really.  My first thought... "does 'others' include the USSA's preferred contractor?"     A:   NO

Wed, 12/15/2010 - 15:41 | 808977 orangedrinkandchips
orangedrinkandchips's picture

"I say we blow the fuckers up".....Booger- Revenge of the Nerds

Wed, 12/15/2010 - 15:44 | 808988 Cdad
Cdad's picture

OK...I confess that I shorted BP on this headline.  Did not even read the story...just shorted. 

I post here only becaise I know the criminal syndicate known as Wall Street will pretty soon start talking about what a great thing this is for BP.  I know, it doesn't sound right....but you have to understand how the syndicate works.

But I just wanted to say that if you look at the intraday chart...that chart is what the call BAD.  What is more, this is a company you can short because of all the crazy buying done in June/July...meaning that you can probably stay short UNTIL you see some of those crazy June/July guys come out, like they are coming out the back door of the Roach Motel just now too, which will be really clear on the volume indicator.

Could have said "no brainer" I guess. 

My opinion is...criminal Wall Street bankers are overweight the name.  Short them...until they come out.

 

Wed, 12/15/2010 - 16:15 | 809172 tahoebumsmith
tahoebumsmith's picture

When will they assume some of the responsibility themselves? The MSM was fully aware of the blowout preventer problem 6 months before the accident. In fact they waived BP 's responsibilities to test the BOP just a month before it failed. The MSM green lighted every request BP had even though they knew the well had kicking problems back in NOV 2009. This disaster could have been prevented if the Government had been doing its job. Just like the SEC should be on trial for letting the financial crisis happen, the MSM should be equally responsible if not more responsible seeing how they are the ones that represent the best interest of the people. This will be another BOA or GS trial where they will get a slap on the hand and a 11 million dollar fine. Whoopie shit! Nothing but a dog and pony show to cover their own incompetence and persuade the sheeple into believing they are fighting for them. We all know where their interests truly lie and that is with BP and all their whores and investors in England and the US. They just as soon get rid of all those people down in the Gulf so they can turn it into their toxic waste land and make billions in expanding the refining capabilities in that region. Then again why not fine BP so we can get some of that money they made on the CLEAN-UP? That's right, the clean up pocketed them probably more then they have paid out to date.

Wed, 12/15/2010 - 16:28 | 809232 J K
J K's picture

The fact that Haliburton wasn't named in the suit proves that Dick Cheney still runs the country!

Wed, 12/15/2010 - 18:22 | 809662 cranky-old-geezer
cranky-old-geezer's picture

No criminal indictments ......

DH blowout / disaster was preceeded by the same shenanigans preceeding 9/11.  Large stock sales, shorting, etc.  That's all I have to say about it.

Wed, 12/15/2010 - 22:54 | 810502 Scipionz
Scipionz's picture

2 words : Petro Brasil....

Thu, 12/16/2010 - 01:48 | 810839 Scipionz
Scipionz's picture

Georges Soros did invest billions into Petro-Brasil before the spill. 1/3 of his trading capital! Then the spill, then Obama whit the limitation about how deep you can drill while Petro-Brasil got none, and now this.... Yeah, sound so moral.... a big MONEY joke!

Thu, 12/16/2010 - 04:00 | 810964 CEOoftheSOFA
CEOoftheSOFA's picture

It makes sense that Halliburton wasn't named in the suit.  BP was supposed to run a cement bond log to evaluate the cement job.  Schlumberger was on the rig to run one.  Schlumberger refused to put their tools in the hole because they said the well wasn't dead.  The Schlumberger people left the rig a few hours before it blew.

It also makes sense that Cameron, the manufacturer of the BOP's, wasn't named in the suit either.  BP didn't even attempt to close the BOP's until AFTER the rig was engulfed in flames.

BP should have recognised that the well was not dead about 10 hours before the well blew.  That is where the primary culpability lies. 

CEO of the Sofa

writing from The Kingdom of Saudi Arabia

 

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