BP’s 2010 Gulf of Mexico spill is still affecting the lives of many Americans, particularly the tens of thousands that have not settled lawsuits
with the company. Yet the company has bounced back from the billions it lost in the wake of the spill.
BP announced that its 2011 profit totaled $26 billion, a 114 percent jump from the year before, when the company’s “failure of supervision and
accountability” caused the worst oil spill in U.S. history. As the company prepares for its upcoming trial, let’s take a look at how BP has made
out after the Deepwater Horizon disaster:
BP earned $3 million every hour in 2011. Its fourth-quarter profits reached $7.69 billion, which is up 38 percent from 2010.
The company is sitting on another $14 billion in cash.
The company continues to scale back its production in the wake of the spill, producing 10 percent less than 2010 levels.
BP contributions to federal candidates totaled more than $98,000 in 2011, with more than half (65 percent) to Republican candidates.
BP spent $8 million lobbying Congress in 2011, down from the record $15 million the company lobbied in 2009 – one year before the oil
For every dollar the big five oil companies use in lobbying, they effectively receive $30 in subsidies. This could mean BP potentially gained up
to $243 million in subsidies, although the exact amount for an individual company is undisclosed.
In the third quarter, BP’s Bob Dudley announced the company had reached a “definite turning point” of boosted profits. However, nearly two
years following the Deepwater Horizon disaster, BP has still only paid $7.8 billion of the $20 billion fund they created to compensate individuals and
businesses for losses incurred by the spill.
In order to pay the $40 billion cleanup costs and additional penalties, the company has committed to selling $38 billion worth of assets before
despite all this.
Despite being found “ultimately responsible” for the most devastating oil spill this nation has ever seen, BP has spent millions lobbying on
bills that would speed offshore drilling and leases. This includes filing a total 24 reports on bills undermining safety regulation in the Gulf of
Mexico, H.R. 1231 “Reversing President Obama’s Offshore Moratorium Act” and H.R. 1229 “Putting the Gulf of Mexico Back to Work Act.”
At the time, Interior Secretary Ken Salazar accused House Republicans of having “amnesia” about the oil spill. No doubt the total $137 billion
profits in 2011 for the five big oil companies had something to do with it.
i think a lot of people are having some amnesia when it comes to this.
this article/thread is to show the inequality in the world.
the lack of responsiblity these gaint corporations are willing to take.
sure sure we'll rake in the big profits, but if something goes terribly wrong it's not our friggin problem.
I know but I couldn't think of any other word for them, it's sickening and I have no idea how on earth they can carry on this way. It really
confuses me how another human being can be so cruel. I don't think I'll ever be able to understand that.
I think it is completely disgusting what they did. Such greed and corruption...
I really feel for the people that were forced to work for the very same company that destroyed their lives. How humiliating it must've been for
What amazes me is that people have such short memories with these kinds of things. When this happened, I vowed to never buy petrol from BP again and
yet every day I still see people filling up their cars at BP.
I really feel like going up to these people that fill up at BP and try and wake them up.
Now, if there are any petrol station owners here that can confirm this queston for me that would be great:
Does the owner of a petrol station (any company) only give the corporation money back for fuel and all the profit from the rest of the things that
they sell like drinks, ice-creams etc go straight to the owner of the station? Or does the corporation take a cut of that too?
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