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The Future of the BP Claims Process ?
What to expect in 2012 with the BP Claims Process, what you are about to read is conjecture, but if you look at our track record we have been pretty dead on when we forecast the future of the GCCF and the BP Claims process thus far. There are certain facts that are coming to light that will support the following statements regarding the future of the BP Claims process. There are many rumors surrounding the GCCF, the fate of Ken Feinberg, coinciding with developing news around the BP Claims Audit, and the strong possibility of BP personnel facing criminal charges. Mind you, these are predictions.
Predictions for BP Claims in the New Year
1. In the very near future BP Claims will begin to get paid at a very high rate, one that we have never seen before.
The reasoning for this is several reasons, the BP Claims Audit is underway, and what is going to be disclosed is not pretty, it will show dysfunction at a very high level, and an organized systematic ineptitude by the GCCF, it will lead investigators and others at the Department of Justice to believe this was done on purpose. This will be compounded by the February 27th trial date that will lay the blame of the explosion squarely at the feet of BP, it will be disclosed that BP engineers clearly knew about a pocket of gas, and they did not alert it`s partners. As BP and the GCCF have done in the past, they will stem off the negative publicity by paying lots of claims. They may very well do this before the trial date, so that they are less likely to face the wrath of all the Individuals and Businesses that still have BP Claims pending at the GCCF.
2. Ken Feinberg will be stepping down as the Head of the GCCF
With all of the news that is about to come out of the BP Claims Audit, BP is going to have no choice but to distance themselves from Ken Feinberg. They again are going to try to lay the blame for the failings of the GCCF on someone else. BP has had quite a history during the BP Oil Spill of blaming it`s partners, it has blamed Halliburton, it has blamed Transocean, and now it will blame Ken Feinberg and other officials at the GCCF.
3. A new Apparatus to pay BP Claims will replace the GCCF, at the very least there will be major changes at the GCCF
After it is discovered by BDO the new consulting group engaged by the Department of Justice to audit the BP Claims process and the GCCF, it will come to fruition that a new mechanism to pay all of the BP Claims will have to be established. At the very least a complete overhaul of the GCCF, and it`s hierarchy will be constituted. Eric Holder at the urging of Jim Bonner and Senators Wicker and Rubio are seeking justice for all of those betrayed by the GCCF. The audit will be completed no later then March of this year, on the heels of the February trial that will find BP as the most responsible party for the Gulf of Mexico Oil Spill.
4. Oil Spill Clean Up Workers and others will continue to get sick, Nalco and the EPA will come under fire
It will be confirmed that those exposed to Corexit and the the oil that spewed from the the Deep Water Horizon, are indeed sick and getting sicker. It will be further verified from evidence from the Exxon Valdez that a spike of certain cancers will start showing up in those exposed. As we have seen, blood tests will become increasingly more used to determine the levels of contamination in people. Volatile active compounds in the blood will be directly traced to the Gulf Oil Spill and the dispersant Corexit 9500. Lawsuits will be instituted against Nalco the maker of Corexit and the EPA for letting them use it, while other alternatives were readily available.
5. Areas of the Gulf will be in complete collapse.
It will become increasingly clear that certain species in the Gulf and bayous will enter a severe state of decline, as noted this year the catches were way down for shrimp, crab and other fish both pelagic and reef dwellers. There are just so many signs that things are not right in the Gulf of Mexico, it will become most evident at the end of 2012 that the Gulf will need decades to recover. Twenty plus years after the Valdez oil spill only 15% of the Herring have ever returned. With all of the Oil and Corexit sitting on the Gulf floor killing things at the molecular level, it will be understood how this bio accumulates in the different animals that call the Gulf of Mexico home, and how it will affect the food chain. This will drastically affect the Gulf of Mexico`s economy and the Gulf Seafood Industry.
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