BP Oil Spill Not Covered by Transocean Insurance

 

A New Orleans judge has ruled that BP Plc’s 2010 Gulf of Mexico oil spill is not covered by the insurance the company holds with Transocean Ltd.

Following the oil spill in 2010, BP filed claims with the carriers of Transocean Insurance, seeking a payment of $750 million from their numerous policies with the insurer. Several excess underwriters, with Lloyd’s of London and Ranger Insurance, the primary insurer of Transocean, contested BP’s claims, saying that the contract between BP and the owner of the rig did not include this protection. 

http://www.liveinsurancenews.com/judge-decides-bp-oil-spill-not-covered-by-transocean-insurance/856469/

Sickening

The oil industry is out of control.  The Ocean covers 75% of the Earth, and it is being destroyed so that our generation can live a great life in the short term?  What about the long term and generations to come.  We have no right to destroy the Earth just because we have an addiction to oil.