As with any major news story, particularly one that has a had so many developments over the last two years, there are many angles to consider. This spotlight focuses on the indirect elements and impacts of the announced settlement.
On Forbes.com, tax attorney Robert Wood examines how victims of the disaster who receive compensation may or may not be taxed depending on their circumstances. You can watch a video interview with Wood on the same topic here.
As for BP, the Huffington Post details the investment they’ve made into K Street lobbyists while the Houston Chronicle reports that the company’s investors appear to be reassured by the settlement announcement. BP’s shares rose 2% last Monday but as The Guardian explains in a similar story, that’s also partly due to the fact that BP is under consideration by the Iraqi oil minister to develop an oil field in the north of the country.
The Guardian also reports that BP’s chief executive Bob Dudley received a $1.6 million dollar bonus. According to BP, Dudley and other executives who received equally exorbitant bonuses, have: “performed exceptionally well. They have put BP back on track to recovery. They turned a $5bn loss in 2010 into a $24bn profit in 2011.”
BP might be on the road to recovery but as the BBC correspondent in Louisiana, Jonny Dymond points out, the same can’t be said for all the residents of the Gulf Of Mexico. Dymond’s look at the lives of those still suffering from the effects of the spill can be found here.
