The U.S. government banned BP Plc on Wednesday from new federal contracts over its "lack of business integrity" in the 2010 Deepwater Horizon oil spill, possibly imperiling the company's role as a top U.S. offshore oil and gas producer and the No. 1 military fuel supplier.
The suspension, announced by the Environmental Protection Agency, comes on the heels of BP's November 15 agreement with the U.S. government to plead guilty to criminal misconduct in the Gulf of Mexico disaster, the worst offshore oil spill in U.S. history. The British energy giant agreed to pay $4.5 billion in penalties, including a record $1.256 billion criminal fine.
This very good news, though considering the devastation caused by the negligence of this company there will NEVER really be an appropriate cost which can be levied against them in my opinion.
However I have to say that being forced to pay 4.5 billion in penalties, which is the most EVER paid out by any company in US history, along with having the opportunity to bid on new contracts stripped away, MIGHT cause enough pain to the company to make them put safety concerns front and center from this point forward.
By the way I am not sure if any of you are aware, but the first time there were any allegations that BP cheated while testing those blowout preventers, you know the ones that failed and caused the giant oil spill in the Gulf, was up here in Alaska, was actually from tests performed on the North Slope to be exact.
And do you know who was the manager in charge of testing those blowout preventers on the North Slope at that time?
You guessed it.
Just ANOTHER example of the Palin curse at work I suppose.