While the Gulf still has a long way to go before complete recovery from BP’s oil spill last year, the New York Times reports that BP will soon be back to drilling. On top of that, BP is complaining that compensation payments for victims are too costly. (See their official complaint here)
Really, BP? After killing thousands of animals, destroying wildlife habitats, ruining the Gulf’s fishing market, devastating their entire economy, and literally plaguing the lives of millions, you say you’re paying the victims too much?
The executives of BP, looking barely past the end of their noses, are choosing to ignore the true extent of their fatal mistake. While their current estimates do not account for continuing and future damages, BP is claiming that their compensations manager, Kenneth R. Feinberg, has vastly overestimated the damage.
BP has a $20billion fund to compensate victims of the Gulf oil spill. So far, Feinberg has given out more than $3.5billion in emergency money. Some 100,000 people have filed for a final settlement, and an additional 90,000 have opted to take quick-pay settlements with payments of $5,000 to individuals and $25,000 to businesses. Final payments are about to begin.
BP and Feinberg have been attacked by many of the victims filing claims and by coastal state politicians who argue that the process is opaque, arbitrary, and slow. Many of them have also argued that Feinberg’s recently published estimates of future damage to those in the gulf are too optimistic, and thus his offer of compensation in a final settlement is too low.
A two week public comment period ended Wednesday. Comments can be read at www.gulfcoastclaimsfacility.com.
Comments include cries for aid, one reading, “We need help now! We have not been paid in 8 months. I have a mortgage, car payment, utilities, and a child. I’m close to losing my home and I pray that you figure out everything before I lose everything. We are people with real lives! This has been a horror for my family.”
While those affected by the oil spill continue to suffer without knowing when their lives will ever go back to normal, BP is already going back to business as usual. Today, BP unveiled their new well-blowout plugging and spill containment system — a step toward resumed drilling. Details of the new system can be read here.
Because of the profitability of oil, not even catastrophe can stop big oil companies like BP. This is even more reason to end our dependency on oil.
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