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Posts Tagged ‘Act’

Transocean Pleads Guilty to Gulf Oil Spill and Agrees to Pay $1.4 Billion in Fines

January 3rd, 2013

Deepwater Horizon, BP, Transocean, oil spill, offshore oil rig

The US Department of Justice announced today that Swiss company Transocean Ltd, the owner of the Deepwater Horizon rig that exploded and sank in 2010, has agreed to pay $1.4 billion for the oil spill that spewed millions of gallons of crude oil into the Gulf of Mexico. Under the settlement, the company will plead guilty to violating the Clean Water Act, and it will agree to pay $1 billion in civil penalties and $400 million in criminal fines. The announcement comes just six weeks after BP agreed to pay $4.5 billion in damages for the massive oil spill.

Deepwater Horizon, BP, Transocean, oil spill, offshore oil rig Deepwater Horizon, BP, Transocean, oil spill, oil sheen


Deepwater Horizon, BP, Transocean, oil spill, oil sheen

Neither the announcement nor the size of the fine should come as a surprise, as Transocean previously announced that it had reserved $2 billion for paying fines related to the disaster. According to court documents, $150 million of the $400 million criminal fine will be dedicated to restoring, preserving and conserving coastal ecosystems and habitats along the Gulf Coast.

Similarly, the $1 billion civil penalty will be subject to the Resources and Ecosystems Sustainability, Tourist Opportunities and Revived Economies of the Gulf Coast States Act of 2012 (Restore Act), which requires that 80 percent of the money be used to fund projects that provide the environmental and economic benefits to the Gulf region.

“This resolution of criminal allegations and civil claims against Transocean brings us one significant step closer to justice for the human, environmental and economic devastation wrought by the Deepwater Horizon disaster,” said Attorney General Eric Holder in a statement. “This agreement holds Transocean criminally accountable for its conduct and provides nearly a billion dollars in criminal and civil penalties for the benefit of the Gulf states.”

Via AP and New York Times

Deepwater Horizon, BP, Transocean, oil spill, offshore oil rig Deepwater Horizon, BP, Transocean, oil spill, oil sheen




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iPad 2013: Mini on the rise

January 2nd, 2013
The iPad Mini is a first-gen Apple product. So speculation about Act 2 will be rampant in 2013. [Read more]



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Policy and privacy: Five reasons why 2012 mattered

December 24th, 2012
It was the year of Internet activism with a sharp political point: Protests derailed the Stop Online Piracy Act, assisted in imploding a United Nations summit, and helped to postpone a data-sharing bill. [Read more]



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Feds Tighten Up Child Privacy Protection Rules

December 19th, 2012
The Federal Trade Commission on Wednesday announced final amendments to the Children's Online Privacy Protection Act Rule, which governs the online collection of personal information under the age of 13. This is the culmination of a review that began in 2010 to ensure that the COPPA Rule keeps pace with changes in technology and the way kids use and access the Internet. "This new set of rules has made them more granular and includes new techniques -- for instance, mobile is an extension of online but didn't exist in 1998," said American University professor Kathryn Montgomery.



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Police on Apple store tasering: It was ‘justified’

December 14th, 2012
After reviewing an incident in which a 44-year-old woman was tasered for allegedly refusing to leave an Apple store, police conclude the act was "justified and appropriate." [Read more]



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Shadows on the Vatican – Act II: Wrath Screens [PC]

December 14th, 2012

Shadows on the Vatican Act 2 Wrath Trailer [PC]

December 14th, 2012
The second act has finally come for Shadows on the Vatican.


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‘What legalizing gay marriage means for our money’

December 11th, 2012
Should the Supreme Court strike down the Defense of Marriage Act, which defines marriage as solely between a man and a woman, same-sex couples will see big changes to their finances -- for better and for worse.


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Bats, snakes now among endangered species in Canada

December 4th, 2012

As the 10th anniversary of the federal Species At Risk Act approaches, dozens of animals and plants have been added to the list considered at-risk.



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Wii U charges 50 cents to register minors

November 18th, 2012
In accordance with Children's Online Privacy Protection Act, parent or guardian must pay one-time fee of $0.50 to verify consent to create Nintendo Network account for those under 13.


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