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Oil Spill Effects

BP Stilling Battling for Billions Over Gulf Spill

BP will battle to hold down fines that could hit $18 billion in a new phase of the Gulf of Mexico trial that will rule on how much oil it spilled in 2010 and judge its efforts to plug its well.Starting on Monday in New Orleans, this second of three phases of a trial determining responsibilities for the worst marine pollution ever seen in the United States, could - in the worst outcome for the British firm - land BP with a bill five times greater than the $3.5 billion it has set aside for fines.Its annualized earnings, based on last quarter, are running at about $17 billion.A first phase, which wrapped up in April, looked at dividing blame among BP and its contractors, Transocean Ltd and Halliburton Co, for the 2010 Macondo disaster which left 11 men dead and huge stretches of sea and coast fouled with oil.Expected to last a month, this second part of the process will be crucial for shareholders in estimating some of the extra cash BP could end up paying out beyond the $42.4 billion it ...

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  2. Should Taxpayers Foot the Bill for Oil Spills?

    Representative Alcee Hastings, (D-FL), introduced a bill that would abolish write-offs oil companies take on their tax returns for the costs of cleaning up their oil...

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    By Joshua SchneyerNEW YORK (Reuters)- For the small club of companies who trade the food, fuels and metals that keep the world running, the last decade has been sens...

  4. U.K. Government: Shell Oil Leak 'Substantial'

    Royal Dutch Shell's ruptured pipeline in the North Sea has already caused a "substantial" oil spill, with oil still leaking into the sea on Monday, the British gover...

  5. The Oyster Entrepreneur

    How one oyster farmer in Rhode Island is making millions doing what he loves.

  6. Oyster Industry in Danger

    FBN's Ashley Webster breaks down the impact of the Mississippi River floods on oysters .

  7. Oyster Industry in Danger

    FBN's Ashley Webster breaks down the impact of the Mississippi River floods on oysters .

  8. Oyster Industry in Danger

    FBN's Ashley Webster breaks down the impact of the Mississippi River floods on oysters .

  9. One Year Anniversary of BP Spill, But Where is the Drilling?

    FBN's Neil Cavuto on the recovery of the Gulf coast after the BP oil spill despite the lack of drilling.

  10. Florida Beaches Clean One Year After Gulf Oil Spill

    Florida Governor Rick Scott discusses the state of Florida's ecosystems and how he is dealing with the state's deficit.

  11. Kenneth Feinberg on the BP Spill Claim Process

    BP Compensation Fund Administrator Kenneth Feinberg on the process of filing a claim and the proof needed to pay a claim.

  12. Higher Seafood Prices From Japan Fallout?

    John Sackton, publisher and editor of SeafoodNews.com, on the ripple effects of Japan’s disaster on the seafood market in the U.S. and abroad.

  1. Should U.S. Continue to Give Funds to Keep Foreign Allies Happy?

    Former CIA Operative Mike Baker on the defense funds given to Egypt and continued threats from North Korea.

  2. Chevron nears settlement in Brazil spill case

    Chevron Corp is willing to pay about 300 million reais ($144 million) to settle lawsuits in Brazil over an oil spill last year, a senior executive and a federal pros...

  3. Chevron nears $150 million settlement in Brazil spill case

    Chevron Corp would be willing to pay about 300 million reais ($150 million) to settle lawsuits in Brazil over an offshore oil spill last year, a senior executive and...

  4. Exclusive: Chevron Brazil ban ended, marks restart step

    Chevron Corp received a boost to its efforts to restart oil output in Brazil after a court overturned a ban on its operating in the country and the company agreed on...

  5. Exclusive: Chevron Brazil ban overturned; company offers changes

    Chevron Corp's efforts to restart oil output in Brazil received a boost after a court overturned a ban on operations and the company agreed with prosecutors on a pla...

  6. Exclusive: Chevron, Transocean agree to change offshore Brazil procedures

    Chevron Corp and Transocean Ltd have agreed to change offshore safety and operating procedures as part of a lawsuit seeking nearly $20 billion in damages from the co...

  7. The Risks of an Oil Spill in Straits of Mackinac

    National Wildlife Foundation’s Beth Wallace on the potential impact on the Great Lakes’ ecosystem and economy of an oil spill .

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