Just as expected, teams of lawyers are quickly descending on the Gulf to extract their share from the devastation caused by the sinking of British Petroleum’s Deepwater Horizon drilling rig and the resulting unstoppable oil spill. Multiple lawsuits have already been filed which could dwarf the half-billion dollars awarded after the Exxon Valdez disaster in March 1989.This reminds me of a joke that I heard many years ago:
Q: What is the difference between a lawyer and a catfish?
A: One is an ugly, scum-sucking, bottom feeder and the other is just a fish...
Plaintiffs in the cases already filed include:
- British Petroleum PLC - The owner of the leaking well.
- Transocean Ltd. - The owner and operator of the Deepwater Horizon drilling rig.
- Halliburton, Inc. (Dick Cheney's company) - The contractor that "capped" the well.
- Cameron International - The manufacturer of the well blowout preventers.
- Lloyd's of London may also be financially on the hook as Transocean's insurer.
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