Anadarko To Pay Record Settlement To Clean Up Kerr-McGee's 85-Year Toxic Legacy

The Department of Justice and the Environmental Protection Agency announced on Thursday a $5.15 billion settlement with a subsidiary of Anadarko Petroleum in what is, according to the two agencies, the largest pollution cleanup settlement in history.

The settlement stems from pollution left behind by the Kerr-McGee Corporation, which was acquired by Anadarko in 2006. Kerr-McGee's decades-long legacy of polluting industries dates back to at least 1928, and included uranium mines, wood treatment facilities and chemical manufacturing plants.

The DOJ claimed that between 2002 and 2005, Kerr-McGee transferred the more profitable oil and gas portions of its company to a new entity, referred to in the case as "New Kerr-McGee." In 2006, it transferred other parts of its company associated with the years of pollution into a separate company, Tronox, which was left insolvent. Tronox couldn't pay the costs of the environmental cleanup and went into bankruptcy in 2009.

Read full text in the Huffington Post