BP preparing "vigorously" for oil spill lawsuits

[dipsydoodle]

(Reuters) - BP said it was preparing "vigorously" for lawsuits related to its Gulf of Mexico oil spill, which are due to start later this month, as it unveiled a rise in fourth-quarter earnings boosted by higher oil prices and one-off gains.

Chief Executive Bob Dudley said on Tuesday BP was ready to settle on "fair and reasonable terms" but added he was also ready to fight.

The comments came as the company unveiled fourth-quarter results which showed its estimate for the total cost of the spill rose by $1.8 billion in 2011 to $43 billion. Some analysts think the final figure could be much higher.

The increased estimate reflected higher costs of shoreline clean up, which BP said was now largely complete, and a new $500 million charge related to legal costs beyond 2012.

http://uk.reuters.com/article/2012/02/07/us-bp-idUKTRE8160F920120207

[Lasher]

1. Vigorous. That's one of lawyers' favorite words.

It's supposed to make you believe you'll get nothing but a bloody nose if you dare sue their client. Resistance is futile and all that.

[Obama3_16]

2. I know we need gas and all that....but these people are criminals

and they should have to pay billions over the next few years to begin making some sort of restitution to the many people of the gulf area affected by their criminal and greed-based negligence.

[klook]

3. How 'bout they prepare vigorously

to prevent oil spills too?

[Dustlawyer]

4. Nothing but propaganda

While BP is putting this behind them, they make no allowance for the victims to be able to do the same. They say they are going to end the 20 billion dollar fund a year early. Want to know why, there never has been a 20 billion dollar fund! They set the whole thing up and paid the press to say what BP wanted. BP agreed to put 1.25 billion per quarter starting in Jan 2011. They have received almost as much money from co-defendants as they have paid to claimants. The majority of claimants never received an interim payment to stay afloat as required by the Oil Pollution Act. They chose to violate the law to make the victims more desparate so they would take BP's low ball offer. Fishing in the Gulf is ruined. They used Corexit to sink the oil to avoid fines and killed all of the shrimp in the Gulf! DO NOT BELIEVE THE PROPAGANDA!

[BelgianMadCow]

5. can't be hard, using a part of their recordbreaking 25 billion dollar profits