BP Could Get Billions in Tax Breaks on Oil Spill Settlement; Settlement not nearly enough

(Before It's News)

BP could get billions in tax breaks on oil spill settlement. Damage payments – such as money paid for coastal restoration – can be treated as a business expense.

BP settlement: Tens of millions for lawyers, not nearly enough for the coast. Louisiana’s settlement with BP is a raw deal. U.S. District Court Judge Carl Barbier previously ruled that British Petroleum (BP) acted recklessly in disregarding warning signs that the well wasn’t properly sealed against gas leaks. [no mention of harm to human health]

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