Discussion: What Do EPA Sanctions Mean for BP’s Future?
Reporter Abrahm Lustgarten answered your questions about the EPA’s temporary suspension of BP from receiving new government contracts.
The Environmental Protection Agency temporarily banned oil giant BP from receiving new government contracts Wednesday, citing a “lack of business integrity” over the 2010 Deepwater Horizon explosion.
ProPublica reporter Abrahm Lustgarten has been covering BP since 2005, reporting on the company’s subsequent $7.8 billion settlement and outlining the potential impact of sanctions early on. In May 2010, Abrahm noted:
“The most serious, sweeping kind of suspension is called ‘discretionary debarment’ and it is applied to an entire company. If this were imposed on BP, it would cancel not only the company’s contracts to sell fuel to the military but prohibit BP from leasing or renewing drilling leases on federal land. In the worst case, it could also lead to the cancellation of BP’s existing federal leases, worth billions of dollars…even a temporary expulsion from the U.S. could be devastating for BP’s business.”
What do these new restrictions mean for BP, its U.S. operations and drilling in the Gulf?
Read the story: Latest Sanction Against BP Goes Beyond Gulf Spill
Abrahm answered your questions on BP’s debarment, between 1 p.m. and 2 p.m. ET on November 29th. Check out the chat below.
The BP oil disaster in the Gulf has had untold health, economic and environmental effects.