Transocean to give shareholders $1 bill while trying to cap responsibility for Gulf spill at $27 mil

[Robbien]

Transocean, Ltd., the giant oil contractor that leased its Deepwater Horizon rig to BP, held a “closed-door meeting” with shareholders Friday, “just days after” executives appeared before Congress to explain the company’s role in the massive Gulf of Mexico oil spill. As ThinkProgress noted, the meeting took place at the company’s headquarters in Zug, Switzerland, where Transocean relocated two years ago to avoid paying taxes. Though CEO Steven Newman “ignored questions from reporters,” the company said in a statement that it would distribute $1 billion in dividends to shareholders:

The revelation that Transocean is distributing a $1 billion profit to shareholders as one of its drill sites leaks millions of gallons of oil into the sea is sure to inflame an already smarting debate over offshore drilling and the company’s role.


http://theenergycollective.com/TheEnergyCollective/66037

[Scuba]

1. Seize their assets now...

...before they're all distributed to shareholders and executive while their attorneys re-configure the company is some clever way to mitigate their liability

[ProgressiveProfessor]

3. How?

[paparush]

4. US Navy warships commandeer TransOcean ships and platforms?

I dunno, man. I just don't know.

[ProgressiveProfessor]

5. ahhh Piracy, American Style

[paparush]

6. I know, I know, it makes no sense..

but hell, we've got this multi-billion dollar Navy. Give those men and women something to do.

[Bennyboy]

2. Yeah!

TranOcean in Switzerland, Halliburton in Dubai and British Petroleum from Britain.


And the American taxpayer is going to be screwed for decades.