There has been speculation that the current Settlement Program could compromise BP’s viability and leave it vulnerable to collapse. That is far from being accurate. Most likely, BP, or its sympathizers, are putting this information out to scare either the Settlement Program or some court into seeing its way on denying claims. It’s part and parcel of BP’s public relations plan. In fact, BP’s own records indicate a completely different story. In the midst of litigating the massive limitation trial in New Orleans, paying for the administration of an army of accountants in New Orleans to process claims and physically paying billions in claims, BP managed to still eek out a $4.2 billion profit. What’s more, the profit report actually beat industry profit forecasts by $1 billion. Needless to say, BP’s financials are fine.
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