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Thu, 2013-01-31 15:26Farron Cousins
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Record Fines For BP In Gulf Disaster Deal

After a ruling earlier this week by a federal judge in New Orleans, BP now holds the record for the largest criminal penalty in U.S. history.  The penalty, totaling $4 billion, is strictly related to the criminal conduct of the company that led to the 2010 Deepwater Horizon oil rig explosion and oil leak into the Gulf of Mexico.

As part of the deal, BP agreed to plead guilty to a total of 14 counts of criminal conduct, which includes charges of felony manslaughter. However, as CNN.com points out, the charges are against the company, not any individuals involved, so prison time for those responsible will not be part of the deal.

The $4 billion criminal penalty does not affect the settlement deals for the victims along the Gulf Coast, nor does it include any environmental fines for the company. Those are separate cases that are still being worked out, and will result in several billions more in financial penalties for the company.

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