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BP nearing deal with Justice Department over Gulf oil spill?
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Judge Andrew Napolitano weighs in
- Duration 3:38
- Date Oct 11, 2012
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Transcript
This transcript is automatically generated
Well that devastating and frankly historic oil spill in the Gulf of Mexico is today causing -- problems along the gulf south.
More than two years after the disaster happened.
According to the reporting of the US Coast Guard there's an oil Sheen.
That turned out near the sunken deep water horizon rig last month and it matches the oil from the 2010 disaster they tested it.
It does not pose a risk to the gulf shoreline.
The Coast Guard report that BP and Transocean which owned the rig could be liable for this new oil.
In the meantime BP is apparently close to a multi billion dollar settlement.
In the Justice Department's federal lawsuit over that -- that's according to the reporting of the Wall Street Journal which again is owned by -- company.
Remember the explosion killed eleven people injured more than a dozen others it unleashed some 200 million gallons of oil into the Gulf of Mexico.
Let's take this to the judge Fox News senior judicial analyst educated Paula tanto inspected -- New York studios a settlement is it to get it what's the situation -- just.
Well there's there's two there -- cases that the federal government has against BP one -- a threatened to criminal case.
They have not yet indicted the corporation but -- basically holding and an indictment in their hand saying we'll file this tomorrow there.
And the other is a lawsuit that the feds have filed.
Under several federal statutes which lets the federal government sue in behalf of property owners whose property has been damaged by the oil spill.
The Wall Street Journal reports this morning that both cases will be settled.
That BP will cough up billions in criminal fines.
As well as billions in compensation -- -- the numbers sound ridiculous because Wall Street Journal and just like anybody else doesn't know exactly what the numbers are.
There somewhere between 6000000000 and 21 billion but the Wall Street Journal sources and they -- they appear to be reliable.
Have have indicated that they are very close to some number between six and 21 -- whatever it is BP will pay of course that won't actually have to pay -- chat because you may remember.
They coughed up twenty billion -- -- a month after the -- because that vice president literally.
Put his arm on the then CEO of BP saying have a twenty billion now.
So the feds will just take this money and -- And that money would go to the states Alabama Mississippi Louisiana all of Florida or -- went out without it getting too much in the weeds there until federal statutes one lets the federal government give it to the states for all their damages damages to state property and say reduction and in taxes paid by people who lost -- -- -- didn't pay taxes to the state.
The other -- only lets the federal government reimburse the states that have actually spent money to clean up the environment only one state in the Gulf Coast has spent.
Enough money to -- him to demand reimbursement for cleaning up the environment.
That's Louisiana.
But the other states there Texas Alabama the great state and Mississippi.
We all so want some money from the -- my guess is.
The feds will distribute that money to the states the -- will collect a lot of money from BP somewhere closer to the twenty billion and and this case will be over.
Over over and done with the -- sitting in BP can move on do more drilling and make more billions right.
Well yes and what you said at the outset here is very significant because that the people who received money from BP agreed never to -- again for anything having to do what is the most they didn't know that there might be yet another spill or another machine.
Coming from the original spell they won't be able to sue for any damages from that.
Yes stand by for news just a volatile great to see thank you good to see your --
