Executive: No Guarantee BP Will Help Pay Subsidiary's Fines
NEW ORLEANS (AP) — An executive for the BP subsidiary that faces billions of dollars in possible fines for the 2010 Gulf of Mexico oil spill says it is uncertain whether other BP entities would step in to help pay a steep penalty.
Richard Morrison, chairman of the board for BP Exploration and Production, said parent corporation BP PLC would have to consider numerous factors, including the current low price of oil.
Morrison testified Tuesday as BP attorneys sought to convince a judge that BP should pay far less than the estimated $13.7 billion maximum penalty for the 2010 disaster. Justice Department attorneys want a stiff penalty.
Also testifying Tuesday was a University of North Carolina toxicology expert who disputed government experts' studies of potential environmental harm to the Gulf from the spill.
– by AP Reporter Kevin McGill