State University of New York Institute of Technology
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BP Suspended

This blog is related to an Ethics Newsline article titled, "U.S. Government Halts Dealings With BP Over Lack of 'Business Integrity'". Two weeks ago, BP oil giant has agreed to the largest criminal fine in history as part of a $4.5 billion settlement to cover only part of the damage caused by the explosion from one of its rigs in 2010. The blast caused the death of 11 workers as well as the worst oil spill ever to impact the United States. Upon their agreement to the criminal fine, the U.S. government has banned them from any new federal contracts. They say the suspension will last until BP can comply with federal ethics and business standards. The London Telegraph reported that such suspensions as this typically last about 18 months. About one-fifth of BP's oil and gas income come from the U.S. and their largest loss from will come from defense contracts totalling more than $2 billion.

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