BP clinches Deepwater Horizon tax break
WASHINGTON, D.C. — A federal judge in Louisiana finalized a $20 billion civil settlement between BP, the Justice Department, and the five states of the Gulf Coast. Despite protests from both Congress and a broad coalition of environmental groups, the final settlement will allow BP to deduct a majority of the costs as an ordinary business expense.
Friends of the Earth Climate and Energy Campaigner Lukas Ross issued the following statement in response:
We are saddened to learn that the gross negligence of BP continues to enjoy taxpayer subsidies. Treating the worst oil spill in U.S. history as an ordinary and necessary business expense boggles the mind. Nearly six years to the day since this tragedy began to unfold, it is clear that we have still failed to learn all the lessons of the Deepwater Horizon.