Business: BP Pays Billions

A federal judge has ruled that the huge oil and gas company, BP, which in 2010 leaked 4.9 million barrels of oil into the Gulf of Mexico, was grossly negligent in taking up responsibility of the disaster. The oil spill, the worst in American history, killed wildlife, polluted waters, and damaged the livelihoods of many people who make their living off of the Gulf. According to ABC news, “Under the federal Clean Water Act, a polluter can be forced to pay a maximum of $1,100 in civil fines per barrel of spilled oil, or up to $4,300 per barrel if the company is found grossly negligent.” Due to this ruling, BP may be subject to an extra $18 billion in fines. The Gulf of Mexico is still recovering from this disaster, and by the looks of it so are BP’s profits. After the judge’s ruling, BP’s stock fell six percent, cutting the company’s worth by $9 billion.

Contributor: Ashni Nadguada

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