Halliburton to settle U.S. Gulf spill claims for $1.1 billion

[IDemo]

Source: Reuters

Halliburton Co (HAL.N) said it reached a $1.1 billion settlement for a majority of claims against the company for its role in the BP (BP.L) oil spill in the Gulf of Mexico in 2010.

The settlement, which includes legal fees, is subject to approval by the U.S. District Court for the Eastern District of Louisiana.

The amount, to be paid in three installments over the next two years, will be put into a trust until all appeals are resolved, the company said.

Halliburton, North America's top oilfield services provider, had set aside $1.3 billion for costs related to the incident.

Read more: http://www.reuters.com/article/2014/09/02/us-halliburton-settlement-macondo-idUSKBN0GX1DT20140902

[dotymed]

1. Whod'a thunk?

another slap on the wrist for the wealthy.
America's new motto- give us your wealthy, greedy sociopaths and maybe a few immigrants to foot the tab...

[Demeter]

2. They should have demanded the Heart from Dick Cheney's body

[calikid]

5. Heart, what heart? n/t

[Demeter]

6. The one he bought

I hope the donor had died, first.

[turbinetree]

3. Settlements

Wow wee this reminds me of the Justice Department settling with Bank of America (17 billion) and JP Morgan Chase for (13 billion) who have a total aggregate of over (26 Trillion) in wealth and if you look at the settlement these firms get a tax break and we get to pay the bill.
BP made last year over 45 Billion in Profit and has a wealth of over 6 trillion plus in oil reserves to tap and destroy the blue marble we live on.
Halliburton is fracking and destroying or water supply who needs stinking water, apparently not life, but we get a hypocrite former CEO marching off to war and killing people based on a lie.
In all four accounts NOT ONE CEO has brought before the courts to be held accountable which have been packed with right wing ideologue's since Ronald Reagan, what we have is a total failure in accountability, we get these settlement deals like it's some big deal---really.
I suggest that people read the latest edition of the Nation magazine about JP Morgan and Jamie Dimon's and draw your own conclusions, in my own conclusion enough is enough we need another Occupy movement more than ever.

[valerief]

4. Can they write it all off? Oh, wait. They probably don't pay taxes anyway. nt