Thursday, July 2, 2015

BP share price up almost 4% on day as company gets slap on wrist for destroying Gulf of Mexico ecosystem

BP, the environmentally sensitive oil major, today agreed to a 18 billion dollar settlement to end litigation over the catastrophic Deepwater Horizon disaster in the Gulf of Mexico in 2010.

The stock markets responded by goosing BP shares up almost 4% on the day.

The settlement means that folks around the Gulf are SOL on collecting more compensation for lost livelihoods and catastrophic health repercussions that are bound to haunt them for generations.

The market obviously thought this was a good news story for BP.

By definition, that means it was a bad news story for the millions of regular folks who used to make their living from the Gulf.

That's justice in America...


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