BP, U.S. Urge Judge to Accept Plea Over Protests by Victims

[xchrom]

http://www.bloomberg.com/news/2013-01-16/bp-u-s-urge-judge-to-accept-plea-over-victims-protests-1-.html

A BP Plc (BP/) unit and federal prosecutors asked a judge to approve a $4 billion guilty plea for the 2010 Deepwater Horizon blast, over objections from victims that the deal is insufficient punishment for the deaths and injuries it caused.

BP Exploration & Production Inc., the Houston-based exploration unit of BP, agreed in November to plead guilty to 14 counts, including 11 for felony seaman’s manslaughter, and pay $4 billion to resolve all criminal charges related to the largest offshore oil spill in U.S. history.

The sum includes a record $1.26 billion criminal fine to be paid over five years, extensive monitoring of the company’s drilling operations, and funds targeted for wildlife restoration and drilling safety initiatives.

“The plea agreement imposes severe corporate punishment, appropriately reflects the criminal history of other companies with the BP group of companies, the serious nature of the instant offenses, and the impact of the Macondo blowout and spill on the Gulf Coast and our nation as a whole; and deters BP and other deep-water drillers from permitting such a catastrophe to occur in the future,” Lanny A. Breuer, assistant attorney general for the Justice Department’s Criminal Division, said yesterday in a filing at federal court in New Orleans.

[GeorgeGist]

1. Less than BP earnings for 3Q of 2012.

Natural people don't get off that lightly.