Rigged Settlement Could Give BP Billions in Tax Breaks
Times-Picayune
On July 2, the states attorneys general in Louisiana and four other Gulf Coast states celebrated an $18.7 billion settlement with BP over claims from the 2010 Gulf of Mexico oil spill. But, according to the Public Interest Research Group, at least $13.2 billion in the settlement is not defined as a penalty, meaning BP could potentially get billions in tax breaks, even on payments it made to restore natural resources damaged by the spill.
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