The feds fine Transocean $1.4 billion for Deepwater spill
Ever wonder how much it costs to have a subsidiary role in leaking millions of gallons of oil into the Gulf of Mexico, killing 11 people and countless sea animals and gutting the regional economy for months on end?
Transocean has agreed to pay a total of $1.4 billion in civil and criminal fines and penalties for its role in the Deepwater Horizon oil spill disaster in 2010, the Department of Justice just announced.
Under a federal court settlement, it will also plead guilty to violating the Clean Water Act. And Transocean will have to take steps to improve safety and emergency response procedures on its drilling rigs.
So there you go. $1.4 billion. Write a check, mail it to Washington, and get to polluting. That’s how capitalism works.
Transocean to Pay $1.4 Billion in Gulf Spill Accord, The New York Times
Philip Bump writes about the news for Gristmill. He also uses Twitter a whole lot.
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