Energy: Anadarko to pay $5.15 billion fine for fraud

If I remember correctly, the policy of reaping profits and then declaring bankruptcy was the historic tactic of mining companies in Montana and elsewhere. Make a fortune, split it among top officials, then wave hands in the air and say, “Now bankrupt. Can’t clean up mess. So sorry.”

Summit County Citizens Voice

aasdf Trail of toxic waste catches up with corporate polluters.

Largest ever toxic waste settlement will help communities around the country

By Summit Voice

FRISCO — A trail of toxic waste sites around the country finally caught up with Kerr-McGee and various subsidiaries of Anadarko Petroleum Corporation last week.

Under a settlement agreement with the EPA and the U.S. Department of Justice,  Anadarko will pay $5.15 billion to a litigation trust. According to the EPA, the settlement is the largest recovery for the cleanup of environmental contamination in history.

The award came after a bankruptcy court in New York found that Kerr-McGee and the Anadarko subsidiaries played a shell game, selling off assets to try and evade their liabilities for cleanups at toxic sites around the country.

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