BP thanks the US taxpayers

wired4speed
Edited Date/Time 1/25/2012 8:53am
LONDON — Oil giant BP said it plans to offset the entire cost of its Gulf of Mexico oil spill against its tax bill, reducing future contributions to U.S. tax coffers by almost $10 billion.

Can't really blame them for writing off their expenses. It's a business loss. With that said, the facts are that it's only 10 billion dollars we'll have to pay. Could have been far worse.
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jmar
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jmar 7/27/2010 5:25am
7/27/2010 5:25am
10 billion isn't going to come close to cleaning this mess up.

What is reported, and what is fact, is two very different things.
Void Main
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Void Main 7/27/2010 5:29am
7/27/2010 5:29am
No, the taxpayer portion will currently be $10B. The total cost of cleanup is much higher. They are just pointing out that contrary to what was said, the taxpayer will be paying a chunk of it. I agree that we would be extremely lucky if the taxpayer portion isn't much much higher than that when it's all said and done.
Void Main
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Void Main 7/27/2010 7:04am
7/27/2010 7:04am
Actually that's a good idea if you want them to stay in business and not unload more on the taxpayer.
borg
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borg 7/27/2010 7:26am
7/27/2010 7:26am
Void Main wrote:
Actually that's a good idea if you want them to stay in business and not unload more on the taxpayer.
They have the lowest prices here.

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Scotty
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Scotty 7/27/2010 8:00am
7/27/2010 8:00am
BP is prediciting 33 billion for the cost of cleanup. Ouch
plowboy
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plowboy 7/27/2010 9:47am
7/27/2010 9:47am
I know I'm stupid and just don't "get" it. BP causes this giant mess and gets to write a chunk of it off as a "business loss"? Does that theoretically mean that any criminal should be able to write off the cost of his lawyers, fines, damages? I mean...it seems to me that the way BP was doing business was just as criminal as any common thief. Or do EPA and OSHA "regulations" not carry the weight of "law"? Probably written that way on purpose. Crap on a stick folks...at what point do the rights of humanity and our one and only planet come before business and profit? Oops..I'll answer my own silly question...NEVER.
Frogman
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Frogman 7/27/2010 12:18pm
7/27/2010 12:18pm
Just goes to show that the lefties will throw a fit over big numbers whether they understand them or not.
wired4speed 7/27/2010 12:20pm
7/27/2010 12:20pm Edited Date/Time 7/27/2010 12:21pm
Corporate American runs both political parties. If Obama wants BP to foot the entire bill then just fine them 15 billion dollars for their failure to follow policies. We keep the 10 billion dollars and BP can write it off for a tax return of 5 billion dollars. There it is, no cost to the taxpayers. Let's see how Team Obama handles this mess before you believe he's anything more than a man attached to puppet strings.
flarider
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flarider 7/27/2010 12:21pm
7/27/2010 12:21pm
plowboy wrote:
I know I'm stupid and just don't "get" it. BP causes this giant mess and gets to write a chunk of it off as a "business...
I know I'm stupid and just don't "get" it. BP causes this giant mess and gets to write a chunk of it off as a "business loss"? Does that theoretically mean that any criminal should be able to write off the cost of his lawyers, fines, damages? I mean...it seems to me that the way BP was doing business was just as criminal as any common thief. Or do EPA and OSHA "regulations" not carry the weight of "law"? Probably written that way on purpose. Crap on a stick folks...at what point do the rights of humanity and our one and only planet come before business and profit? Oops..I'll answer my own silly question...NEVER.
If you had a business and had a legal problem within that business, say a lawsuit or a toxic spill, that legal representation is a business expense just as the clean up of the toxic spill would be.

Why wouldn't they be?

It's a ballsy move, PR-wise, but legal


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