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Chloe Anister

Bp Holdings: Medicare Fraud Ruling, & $83M Slap, Fall Apart - 0 views

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    bp holdings barcelona CINCINNATI (CN) - The 6th Circuit tossed an $82.6 million judgment against companies accused of using false Medicare claims to bilk millions from taxpayers. In a federal whistle-blower complaint, the United States claimed that Renal Care Group, Renal Care Group Supply Co. and Fresenius Medical Care Holdings recklessly disregarded federal law between 1999 and 2005 when billing Medicare for home dialysis supplies and equipment. The government claimed that Renal Care Group had submitted false claims for equipment provided to home dialysis patients, and set up a sham billing company that interfered with patients' choice of supply options and forced their business. U.S. District Judge William Haynes awarded the government $82.6 million at summary judgment, but the federal appeals court reversed Friday. It found that there was no evidence that the defendants acted with actual knowledge or deliberate ignorance of the truth. "The defendants did not act with reckless disregard of the alleged falsity of their submissions to Medicare," Judge R. Guy Cole Jr. wrote for a three-member panel. "And given that there is no evidence in the record that they acted with actual knowledge (in violation of 31 U.S.C. § 3729(b)(1)(A)(i)), or in deliberate ignorance of the truth (in violation of 31 U.S.C. § 3729(b)(1)(A)(ii)), they are therefore not liable under Count One of the complaint for False Claims Act liability." The case has been remanded back to federal court. bp holdings barcelona
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    wow…it's amazing i like that.
Priscila Arcala

Bp Holdings: Medicare Fraud Ruling, & $83M Slap, Fall Apart - blogger - 0 views

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    bp holdings barcelona http://bpholdingsbarcelonaandmadridspain.blogspot.com.es/2012/10/bp-holdings-medicare-fraud-ruling-83m.html CINCINNATI (CN) - The 6th Circuit tossed an $82.6 million judgment against companies accused of using false Medicare claims to bilk millions from taxpayers. In a federal whistle-blower complaint, the United States claimed that Renal Care Group, Renal Care Group Supply Co. and Fresenius Medical Care Holdings recklessly disregarded federal law between 1999 and 2005 when billing Medicare for home dialysis supplies and equipment. The government claimed that Renal Care Group had submitted false claims for equipment provided to home dialysis patients, and set up a sham billing company that interfered with patients' choice of supply options and forced their business. U.S. District Judge William Haynes awarded the government $82.6 million at summary judgment, but the federal appeals court reversed Friday. It found that there was no evidence that the defendants acted with actual knowledge or deliberate ignorance of the truth. "The defendants did not act with reckless disregard of the alleged falsity of their submissions to Medicare," Judge R. Guy Cole Jr. wrote for a three-member panel. "And given that there is no evidence in the record that they acted with actual knowledge (in violation of 31 U.S.C. § 3729(b)(1)(A)(i)), or in deliberate ignorance of the truth (in violation of 31 U.S.C. § 3729(b)(1)(A)(ii)), they are therefore not liable under Count One of the complaint for False Claims Act liability." The case has been remanded back to federal court. bp holdings barcelona RELATED ARTICLE: http://www.courthousenews.com/2012/10/11/51170.htm
Ileana Armando

Springpad: BP Holdings; Stocks Advance With Copper on China as Crude, Yen Drop - 2 views

Hi there, I think the rate our economy is going right now, I must say we need a lot of luck for our future.

bp holdings Stocks Advance With Copper on China as Crude Yen Drop

nerea arreguin

BP Holdings: Crude Rises to 18-Month High on Syria Tension - 2 views

What a very nice points you got here but you know actually financial planning is basically the practice of budgeting, management of your investments and long term plans for your assets.

bp holdings Crude Rises to 18-Month High on Syria Tension

raine smith

BP Spain Holdings Review: Emerging Stocks Erase Weekly Gain on China, Commodities - 0 views

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    http://www.bloomberg.com/news/2013-03-01/china-stocks-fall-with-russia-on-manufacturing-data-oil-prices.html Emerging-market stocks erased this week's gains, led by commodity producers, after Chinese manufacturing data trailed estimates and as $85 billion of spending cuts were set to be triggered in the U.S. Vale SA, the world's biggest iron-ore producer, was the biggest drag in a measure of developing-nation shares. OAO Gazprom, Russia's largest natural-gas company, fell the most in two weeks. Bank of China Ltd. sank 2.5 percent in Hong Kong. Energy Development Corp. tumbled 11 percent as five people were killed and six are missing after a landslide in the Philippines. Stocks pared losses after a report showed American factories expanded at the fastest pace in almost two years. The MSCI Emerging Markets Index slid 0.1 percent to 1,053.13 in New York, dropping less than 0.1 percent for the week. China's official Purchasing Managers' Index fell to the weakest level in five months in February. The U.S. Senate rejected a pair of partisan proposals to replace spending reductions. The euro-area unemployment rose to a record. "The softer data out of China reflects the recession we're seeing in the euro zone, which is being intensified by the increase in taxes and the sequester due to start today," Alan Gayle, senior strategist at RidgeWorth Capital Management, said in a phone interview from Atlanta. His firm oversees about $48 billion, including developing-nation shares. "The sluggishness is weighing on demand in emerging markets." Monthly Drop Today's decline in equities added to a 1.4 percent slump last month, the biggest decline since May. The emerging-markets gauge has declined 0.2 percent this year, compared with a gain of 4.7 percent of the MSCI World Index (MXWO) of developed-country stocks. The measure of developing nations trades at 10.6 times estimated 12-month earnings, compared with the MSCI World's 13.8 times, according to data
Mark Rushmore

BP Spain Holdings: U.S. stocks off their lows but commodities hit TSX - 1 views

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    North American stocks struggled in midday trading on Friday, following disappointing economic reports from China and Europe, declining commodity prices and the start of federal spending cuts in the United States. The S&P 500 was down 3 points or 0.2 per cent, to 1512. The Dow Jones industrial average was up 22 points or 0.2 per cent, to 14,077. In Canada, the S&P/TSX composite index was down 68 points or 0.5 per cent, to 12,754. Stocks had been down considerably more at the start of trading, but recovered after the U.S. ISM factory index rose to 54.2 in February, up from 53.1 in January and ahead of expectations. As well, the final reading for the Thomson Reuters/University of Michigan consumer sentiment index rose to 77.6 in February, up from an earlier reading of 76.3. However, manufacturing activity in China slowed and factory output in the euro zone contracted for the nineteenth straight month. And in the United States, disagreement in Washington over spending cuts means that $85-billion (U.S.) of automatic cuts are set to begin, raising concerns about the impact on the economy. Within the S&P 500, energy stocks fell 0.5 per cent, utilities fell 0.2 per cent and industrials fell 0.1 per cent. Health-care stocks and consumer discretionary stocks rose 0.4 per cent each. Canada's benchmark index was weighed down by commodity producers: Energy stocks fell 0.9 per cent and materials fell 1.2 per cent. Among commodities, gold fell to $1,575 an ounce, down $5 and marking its third straight decline. Crude oil fell to $90.62, down $1.41 for its lowest level of 2013. In Europe, the U.K.'s FTSE 100 rose 0.3 per cent and Germany's DAX index fel 0.4 per cent. Related Site: http://www.tumblr.com/tagged/bp%20holdings%20hong%20kong Related Video: http://www.slideshare.net/ayenhillman13/bp-holdings-hong-kong-madrid-economy-articles-tag-archives-bp-holdings-hong-kong-15449789
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    If everything is under control or under manageable growing situation, then that is not in an overheating regardless how fast it grows. The economy of nation is always under adjustment constantly for pursuing the best balanced growth. If the economy is good, country is in better state.
agneese bleom

BP Spain Holdings Review - 0 views

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    http://figment.com/groups/14809-BP-Holdings-Barcelona-and-Madrid-Spain/discussions/72938 Emerging-market stocks erased this week's gains, led by commodity producers, after Chinese manufacturing data trailed estimates and as $85 billion of spending cuts were set to be triggered in the U.S. Vale SA, the world's biggest iron-ore producer, was the biggest drag in a measure of developing-nation shares. OAO Gazprom, Russia's largest natural-gas company, fell the most in two weeks. Bank of China Ltd. sank 2.5 percent in Hong Kong. Energy Development Corp. tumbled 11 percent as five people were killed and six are missing after a landslide in the Philippines. Stocks pared losses after a report showed American factories expanded at the fastest pace in almost two years. The MSCI Emerging Markets Index slid 0.1 percent to 1,053.13 in New York, dropping less than 0.1 percent for the week. China's official Purchasing Managers' Index fell to the weakest level in five months in February. The U.S. Senate rejected a pair of partisan proposals to replace spending reductions. The euro-area unemployment rose to a record. "The softer data out of China reflects the recession we're seeing in the euro zone, which is being intensified by the increase in taxes and the sequester due to start today," Alan Gayle, senior strategist at RidgeWorth Capital Management, said in a phone interview from Atlanta. His firm oversees about $48 billion, including developing-nation shares. "The sluggishness is weighing on demand in emerging markets." Related Articles: http://www.dailymotion.com/video/xvj3r4_bp-holdings-hong-kong-madrid-economy-articles-tag-archives-bp-holdings-hong-kong_news#.UTUsrKJTB3A http://jywilliams876.wordpress.com/tag/bp-holdings-hong-kong/
alfredd hanskie

BP Spain Holdings International Market, EUROPE MARKETS: Europe Stocks Rise With Nonfarm... - 2 views

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    http://www.powershow.com/view/3cbeefZTE4N/BP_Spain_Holdings_International_Market_powerpoint_ppt_presentation BP Spain Holdings International Market European stock markets staged broad-based gains on Friday, as upbeat Chinese export data and Japanese growth figures fueled trading optimism and with investors now awaiting key U.S. nonfarm-payroll data to gauge the state of the economic recovery. The Stoxx Europe 600 index rose 0.5% to 294.62, putting it on track to break a two-day losing streak. Shares of Siemens AG (SI) gained 1.5%, after Citigroup added the German conglomerate to its focus list with a buy rating. Citi cited progress in its restructuring and the potential for increased profitability and cash returns. Pointing in the other direction, shares of Clariant AG dropped 2.4% as Nomura cut the chemicals firm to reduce from buy. For the broader stock markets, bourses mirrored gains from Asia, where upbeat export data from China lifted the mood. Exports in February were 21.8% higher than they were a year earlier, suggesting that the global economy is recovering as demand for Chinese goods rebounds. See: China trade surplus narrows, but exports rising Additionally, Japan revised its growth figures for the final quarter of 2012 to show that the economy has turned around and is expanding. See: Japan GDP grows again, but current account weak Investors were further looking to the U.S., where nonfarm-payrolls data, due 8:30 a.m. U.S. Eastern time, will be closely watched for indications that the U.S. labor market is recovering. BP Spain Holdings International Market See More: http://www.foxbusiness.com/news/2013/03/08/europe-markets-europe-stocks-rise-with-nonfarm-payrolls-in-sight/ http://rainesmith34.skyrock.com/312473305-BP-Holdings-How-to-Avoid-Scams-on-Craigslist.html http:/www.quora.com/Aldren-Carlo/BP-Holdings-Barcelona
alderic gerst

THE RISE OF FINANCIAL FRAUD: SCAMS NEVER CHANGE but DISGUISES DO, bp holdings Sweden - 1 views

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    bp holdings Sweden The incidence of financial fraud in the United States is on the rise. Americans submitted more than 1.5 million complaints about financial and other fraud in 2011 - a 62 percent increase in just three years - according to the Federal Trade Commission's (FTC) annual "Consumer Sentinel Network Data Book" the most comprehensive database of U.S. fraud trends (see Figure 1). Joe Borg, head of Alabama's securities commission and a leader among state securities regulators, agreed there is a proliferation of fraud, and he largely blames the Internet. His agency had an unprecedented 31-case backlog of criminal trials involving financial fraud in September 2011. "It's not unusual to have 20-25 convictions a year, but when we have 31 backed up - and we're trying them as fast as we can - the trend is up," he said. Borg ticks off the reasons: "Downturn in the economy. Fear among the public. The idea that the government can't protect them anymore. Medical costs are going through the roof. Those are fears. The Internet is the vehicle. The Internet's a big, big factor." Neil Power, supervisor of the FBI's Economic Crimes Squad in Boston, said the public is not fully aware of how pervasive fraud is, because only the most prominent cases, such as Bernard L. Madoff's $50 billion Ponzi scheme, are covered by the media. The vast majority of cases fly under the public's radar. "There is a substantial amount of fraud being addressed that's not being covered," he said. Many more scammers are never caught by a regulatory system rife with staff shortages and inadequate resources. For example, the Securities and Exchange Commission (SEC) admitted in April 2010 that it has never examined some 3,000 registered U.S. investment advisers, Investment News reported. In Canada, only a small percentage of total fraud is reported to law enforcement: one in three Canadians has been targeted by a scammer, yet only 14 perc
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    Nice website over here! I just wanna thank you for that.
Alenka Berg

BP Holdings: Shell , Statoil face FTC control in U.S. - Oil - probe - 1 views

http://www.bloomberg.com/news/2013-07-12/bp-shell-statoil-face-ftc-scrutiny-in-u-s-oil-probe.html BP Plc, Royal Dutch Shell Plc (RDSA) und Statoil ASA (STL) sind unter Kontrolle durch die US Feder...

bp holdings shell statoil face ftc scrutiny in u.s. oil probe

started by Alenka Berg on 16 Jul 13 no follow-up yet
Vash Gunther

BP Holdings, Pension schemes sue BP over fraud and negligence - 1 views

Source: http://www.pensionfundsonline.co.uk/pension-funds-insider/legal/pension-schemes-sue-bp-over-fraud-and-negligence/689?AspxAutoDetectCookieSupport=1 Pension schemes and asset managers from ...

BP Holdings Pension schemes sue over fraud and negligence

started by Vash Gunther on 30 Jul 13 no follow-up yet
Laura Hermans

BP Holdings, Fondation BP pour faire un don de 500 000 $ à la Croix-Rouge am... - 0 views

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    Bp holdings La Fondation BP, a annoncé aujourd'hui qu'elle fera un don de 500 000 $ à la Croix-Rouge américaine pour appuyer les efforts de secours de Sandy ouragan. Le don de 500 000 $ s'ajoute aux dons versés par le programme de rapprochement BP Fondation employé et aide les efforts de la Croix-rouge à fournir des repas, logement, vêtements, eau et soins médicaux. La Croix-Rouge a ouvert plus de 100 abris dans neuf États, notamment dans le New Jersey. Des fonctionnaires s'attendent à 250 000 à 500 000 repas par jour à New York. À propos de BP aux États-Unis. BP a investi de plus aux États-Unis au cours des cinq dernières années que toute autre société pétrolière et gazière. Avec plus de 52 milliards $ en immobilisations entre 2007 et 2011, BP investit plus aux États-Unis que dans tout autre pays. La société est le deuxième producteur de pétrole et de gaz aux États-Unis, un raffineur de pétrole et un chef de file dans les sources d'énergie alternatives comme l'énergie éolienne et les biocarburants BP fournit assez d'énergie chaque année à la pour lumière de l'ensemble du pays. Avec 23 000 employés américains, BP prend en charge près d'un quart des emplois domestiques 1 million par le biais de ses activités commerciales. Pour plus d'informations, visitez www.bp.com. À propos de la Fondation BP Depuis 2006, la Fondation BP a investi plus de 180 millions $ dans des initiatives U.S.. La Fondation BP est une entité juridique distincte de la BP et comptes indépendamment pour ses opérations, actifs, passifs et de dépenses. Informations complémentaires : Nom : Bureau de presse de BP Emplacement : Houston Téléphone: + 1 281-366-4463 Courriel : uspress@bp.com Bp holdings
Sophie Hoffmann

BP Holdings article code 85258080768: Feeding Frenzy/Redgage - 1 views

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    bp holdings article code 85258080768, Feeding Frenzy fraud watch In the months after the Deepwater Horizon oil rig exploded 300 miles off Florida's coast in April 2010, hotel and restaurant owners, fishermen and shopkeepers kept a grim vigil, waiting to see whether the millions of gallons of spilled oil would taint the state's beaches and harm its seafood. From a distance, thousands of others watched too, the Canadian, European and American tourists and business travelers who had hoped to rent the Tampa Bay, Sarasota or Naples hotel rooms, dine at the restaurants, shop at the stores, and meet in the conference halls along the Gulf of Mexico. Instead, many traveled elsewhere. Although no flocks of oil-soaked pelicans washed up on Florida's shores, and the 200 million spilled gallons did not blacken beaches as so many feared, the coastal communities and their businesses were nonetheless damaged by the BP oil spill, through economic losses - the visitors who never came. That is the contention of cities and counties, and thousands of business owners whose revenues fell in the months following the disaster. A number of Florida resorts and other businesses that sought early compensation for their losses - the plunge in expected revenue - found their requests denied, although London-based BP had set up a $20 billion fund for victims. But the firms couldn't prove their revenue declines were related to the spill. In December, U.S. District Judge Carl Barbier in New Orleans gave final approval to a $7.8 billion partial class-action settlement providing for economic and property damages from the spill, including those in Florida. BP separately agreed to pay $4.5 billion in penalties and pleaded guilty to felony misconduct in the disaster, which cost 11 lives. Barbier now is presiding over a trial to determine whether BP was grossly negligent, with another $17 billion in potential penalties at stake. A new, streamlined process recognizes losses farther from the ex
Geelen Jannsen

BP Announces Resolution of All Criminal and Securities Claims by U.S. Government Agains... - 1 views

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    bp holdings * Løsning av alle kriminelle krav med Department of Justice inkluderer $ 4000000000 betalt i avdrag over en periode på fem år * Oppløsning av alle verdipapirer krav med Securities and Exchange Commission inkluderer $525 millioner betalt i avdrag over en periode på tre år * Eksisterende oppe i 38,1 milliarder dollar anklagen mot inntekt å øke med ca $3,85 milliarder * BP er forberedt på å energisk forsvare seg mot gjenværende sivile krav BP kunngjorde i dag at det har inngått avtale med myndighetene i USA, underlagt court godkjenning å løse alle føderale anklagene og alle krav av Securities and Exchange Commission (SEC) mot selskapet stammer fra Deepwater Horizon-ulykken olje søl, og respons. "Alle oss på BP beklager dypt det tragiske tapet av liv forårsaket av Deepwater Horizon-ulykken i tillegg til virkningen av utslippet på Gulf coast region," sa Bob Dudley, bps gruppe administrerende direktør. "Fra begynnelsen, vi trappet ved å svare på spill, betale legitime krav og finansiering restaurering innsats i gulfen. Vi beklager vår rolle i ulykken, og som reflekterer dagens oppløsning med den amerikanske regjeringen videre, vi har akseptert ansvaret for våre handlinger." I å eliminere muligheten for noen ytterligere føderale anklagene mot selskapet basert på ulykken, BP har tatt en annen betydelig skritt fremover i å fjerne juridisk usikkerhet og kan nå fokusere mer fullstendig på å forsvare seg mot alle gjenværende sivile krav. "Vi tror denne oppløsningen er i beste interesse for BP og aksjonærene," sa Carl Henrik Svanberg, bps formann. Det fjerner to betydelige juridiske risikoer og tillater oss å energisk forsvare selskapet mot de gjenværende sivile kravene." bp holdings
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    Things like this are useful to read.
mary campbridge

Washington Post BP Holdings Madrid Financial Reviews: Wal-Mart freaking ut om... - 1 views

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    http://www.washingtonpost.com/blogs/wonkblog/wp/2013/02/19/wal-marts-freaking-out-about-the-economy-should-the-rest-of-us/ "Vel, vi bare hadde en av disse ukene her på Walmart U.S. Hvor er alle kundene? Og hvor er deres penger? " På fredag, Bloomberg utgitt et par interne e-post fra Wal-Mart ledere panikk om selskapets verste salg start i sju år, "en total katastrofe," som en putte den. Execs tilskrevet lønn skatt fottur som sparket på januar 1, kutte median familiens take - home lønn ved ca $1000 i år Wal-Marts nedgangen. Så hvis du sliter med Wal-Mart, betyr det at alle andre bør bekymre? Det er to måter å se på dette. Først er at dette er en forferdelig tegn. Wal-Mart utgjør en stor del av den amerikanske økonomien-2,3 prosent av BNP i 2006-som mange analytikere ser på det som en nøkkel bellwether. Matt Stoller skrev en glimrende post i fjor på dette emnet: På grunn av sin skala og bemerkelsesverdig mengden data har selskapet faktisk mer detaljert data om økonomi enn de fleste makro-økonomiske prognosemakere. Som Fed styret guvernør Randall Kroszner sa i et møte i juni 2006, Walmart tjenestemenn "effektivt vet hva retail salg er før tallene rapporteres fordi deres salg er så høyt korrelert med generelle detaljomsetningen." Stoller kjemmet gjennom transkripsjoner av møter fra Federal Open Market Committee gjennom årene, og fant at Wal-Mart var ofte advarsel om tegn på problemer i økonomien lenge før noen andre: I 2004 begynte Walmart advarsel av høye energipriser, og at forbrukerne var "likviditet-anstrengt". Selskapet så i salgstall som forbrukerne ble stadig mer levende lønnsslipp til lønnsslipp. I 2005, selskapet begynte å bekymre deg om en "merkelige" situasjon-forbrukeren ble tappet ut, men salget og Walmart kunne ikke finne ut hvorfor. Dette var et snev av kreditt boble, men Fed ignorert det. Med andre ord, ta hensyn til Wal-Mart. De vet ofte noe resten av oss ikke. Men hvis tungsinn ikke er noe for deg, det er en annen m
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    Hi..I would like to thank you for the efforts you have made in writing this post. I am hoping the same best work from you in the future as well. In fact your creative writing abilities has inspired me to start my own blog now.
fritzy eignman

BP HOLDINGS: BP annuleert plannen voor ons cellulose-ethanolfabriek - 0 views

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    BP heeft vandaag aangekondigd het is annuleren plannen om te bouwen van een commerciële schaal cellulose-ethanolfabriek in Highlands County, Florida en de Amerikaanse strategie voor biobrandstoffen richten op onderzoek en ontwikkeling, alsmede licenties zijn industry-leading biobrandstoffen technologie. "Gezien de grote en groeiende portefeuille van investeringskansen beschikbaar voor BP wereldwijd, wij geloven het is in het beste belang van onze aandeelhouders om herschikken van het grote kapitaal dat nodig is om te bouwen van deze faciliteit in andere aantrekkelijker projecten," zei Geoff Morrell, BP vicepresident van communicatie. BP oorspronkelijk aangekondigd plannen om te bouwen van de Florida faciliteit in 2008 met de bedoeling te draaien duizenden hectaren van energiegewassen in 36 miljoen liter per jaar van cellulose-ethanol. Terwijl de beëindiging van haar streven naar commerciële schaal cellulose-ethanol productie in de VS, BP blijft investeren in en bedienen van haar wereldklasse biobrandstoffen onderzoeksfaciliteit in San Diego, Californië, en een demonstratie-fabriek in Jennings, Louisiana, verder ontwikkelen van de volgende generatie cellulose biobrandstoftechnologieën en licentie voor commercieel gebruik in de VS en over de hele wereld. BP is wereldwijd een toonaangevende investeerder in commerciële biobrandstoffen productie. Het bedrijf heeft afgerond bouw van zijn joint venture 110 miljoen liter per jaar ethanolfabriek Hull, Engeland, die naar verwachting later dit jaar online komen. In Brazilië, BP nam eigendom van drie suikerriet-ethanol molens gelegen in de staten Goiás en Minas Gerais van Brazilië in 2011 en groeit momenteel productie daar. Bovendien, BP is het ontwikkelen van geavanceerde biobrandstoffen technologie via haar joint venture investeringen in biobutanol bedrijf Butamax. Over BP in de VS: BP heeft meer geïnvesteerd in de Verenigde Staten in de afgelopen vijf jaar dan elk ander bedrijf van olie en gas. Met meer dan 52 mi
Deandre Kyzer

Justice Department rests in second phase of BP oil spill trial - 1 views

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    Justice Department attorneys rested their case Wednesday in the federal civil trial of BP and Anadarko Petroleum Corp., as the firms and the government continued to argue over how much oil was released into the Gulf of Mexico in the 87 days following the April 20, 2010, blowout of BP's Macondo well. Justice attorneys finished questioning experts who support the government's contention that the oil spill resulted in the release of at least 4.2 million barrels of oil into Gulf. BP and Anadarko have maintained that only 2.45 million barrels of oil were released, and are set to begin making their case Thursday. U.S. District Judge Carl Barbier is presiding over the trial without a jury, listening attentively and interrupting at times with his own questions about the often mind-numbing testimony describing the physics and mathematical equations that experts from both sides have used to estimate the flow of oil. BP's estimate would result in maximum fines of $2.7 billion, billion, if Barbier decides the company and its drilling partners acted with simple negligence, or $10.5 billion if the companies committed gross negligence in their actions during the drilling of the well and in stemming the flow of oil after the blowout. If the government's estimates are adopted, the maximum fines for simple negligence could rise to $4.6 billion, or $18 billion for gross negligence. Testimony so far, and the questioning of the government witnesses by BP attorneys, indicated Barbier will be relying largely on educated guesses in determining how much oil was released. Mohan Kelkar, a petroleum engineering professor at the University of Tulsa, in Oklahoma, testified that Kelkar concluded that between 4.5 million and 5.5 million barrels of oil were spilled by the time the well was finally shut down on July 15, 2010. Kelkar used information about the physical size of the Macondo oil reservoir, BP's pre-drilling estimates of the amount of oil in the reservoir, and pressure readings in
Georgia George

Second phase of BP oil spill trial - 1 views

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    Justice Department attorneys rested their case Wednesday in the federal civil trial of BP and Anadarko Petroleum Corp., as the firms and the government continued to argue over how much oil was released into the Gulf of Mexico in the 87 days following the April 20, 2010, blowout of BP's Macondo well. Justice attorneys finished questioning experts who support the government's contention that the oil spill resulted in the release of at least 4.2 million barrels of oil into Gulf. BP and Anadarko have maintained that only 2.45 million barrels of oil were released, and are set to begin making their case Thursday. U.S. District Judge Carl Barbier is presiding over the trial without a jury, listening attentively and interrupting at times with his own questions about the often mind-numbing testimony describing the physics and mathematical equations that experts from both sides have used to estimate the flow of oil. BP's estimate would result in maximum fines of $2.7 billion, billion, if Barbier decides the company and its drilling partners acted with simple negligence, or $10.5 billion if the companies committed gross negligence in their actions during the drilling of the well and in stemming the flow of oil after the blowout. Details: https://www.goodreads.com/topic/show/1530229-second-phase-of-bp-oil-spill-trial Related Articles: http://www.bpholdingsmngt.de/
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