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BP Loses Bid To Lower $13.7B Deepwater Penalty Cap

By Paul DeBenedetto (February 19, 2015, 1:41 PM EST) -- A Louisiana federal judge on Thursday ruled that penalties paid by BP Exploration & Production Inc. per barrels of oil spilled during the Deepwater Horizon disaster would be capped at the maximum set by the Clean Water Act, thwarting the oil company's attempt to lower a possible $13.7 billion cap set in January....

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