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BP asks Texas Supreme Court for ruling that would cut spill costs
Fuel Fix: AUSTIN — Seeking to shave its liability for polluting the Gulf of Mexico in the 2010 explosion of the Deepwater Horizon, BP asked the Texas Supreme Court on Tuesday to grant a favorable interpretation of an insurance policy.
For the company, which has already spent $28 billion on cleanup and could face $18 billion more in penalties, the financial stakes represent little more than a rounding error. As the operator of the Macondo Well, it is seeking access to $750 million in insurance coverage purchased by the rig owner, Transocean.
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