Among the company's motivations to settle before a trial would be to avoid the higher end of that range, which U.S. District Judge Carl Barbier could impose if he ruled the company acted with gross negligence before the well blowout on April 10, 2010, that triggered an explosion, killing 11 workers and spawning the nation's worst offshore oil spill.

NPR: BP Civil Settlement Remains Elusive As Trial Nears

He took over the island nation of Antigua with his offshore banking empire, Stanford Financial.

WSJ: O Captain! My Captain!

Given the time it would take to clear up any disaster, he says, Brazil may block BP or delay the offshore drilling as they are eager to avoid any catastrophe in 2014 and 2016 when the nation will be in the world spotlight for the FIFA World Cup and the summer Olympics.

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