Today's announcement of a proposed settlement between BP and the US government fails every aspect of the commonly accepted notion of penalty.
This proposed settlement would not hold the guilty accountable for their actions.
This fine amounts to a rounding error for a corporation the size of BP.
This proposed settlement would not protect the innocent.
Nothing in this proposed settlement gives any oil company incentive to be more careful in future operations. Cutting corners and skimping on safety will still be the rule of the day.
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