On Thursday, the Environmental Protection Agency announced that it is barring BP from receiving any new federal government contracts due to the foreign oil corporation’s “lack of business integrity” following the 2010 Gulf oil spill. BP recently agreed to pay $4.5 billion in fines for the environmental catastrophe, which will only put a slight dent in their corporate money chest. But this latest move by the EPA could be far more harmful to the company. BP can still benefit from existing federal contracts, however the Department of Interior has also banned BP from receiving any new leases to drill on federal lands.
According to the EPA, the ban on BP will last until the company can prove it’s capable of meeting federal business standards. Our nation has a long history of putting corporations out of business when they’re operating against the best interest of their workers and the community. Only when corporations have the corporate death penalty “Sword of Damocles” hanging over their head can we make sure that workers and communities aren’t being exploited to maximize short-term profits.
Listen to The Thom Hartmann Program Monday through Friday 3 PM to 6 PM on WWRL 1600.