White House Endorses Unlimited Liability Cap For Oil Spillers

[bluestateguy]

Source: Huffington Post

Democrats in Congress and officials in the White House are making yet another major push to pass legislation to make the liability for oil companies involved in damaging spills unlimited.

On Monday evening, the White House confirmed that it favors the most recent piece of legislation that would drop any numerical ceiling to the amount of money an oil company like BP would have to pay for economic damages caused by a spill. Currently, the cap is $75 million.

"The president supports removing caps on liability for oil companies engaged in offshore drilling," said spokesman Ben LaBolt. "Oil companies should have every incentive to maximize safety and arbitrary caps on liability create a disincentive to achieve that goal."

The statement was the most detailed the administration has offered to date with respect to the debate surrounding BP's liability. And it reflects a growing sentiment within the White House that more aggressive action (if not optics) need to be in place to stem the fallout of the Gulf crisis. Several weeks ago, U.S. Associate Attorney General Tom Perrelli made the case for an unlimited cap without formally endorsing the policy.

mo.

Read more: http://www.huffingtonpost.com/2010/06/07/white-house-endorses-unli_n_603592.html

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President Jack McCain would NOT be doing this

[tularetom]

1. Is an "unlimited cap" an oxymoron?

Is such a thing even possible?

[Posteritatis]

8. You may not be held liable for more than infinity dollars. (nt)

[harmonicon]

9. I'm sure that Dr Seuss could have worked one out (nt)

[pattmarty]

2. I'll fucking believe it when it is passed. Sounds like more of the same............

.................from the Obama administration. Say the things people want to hear and then sit on their asses and not do a goddamn thing. Bill Clinton redux.

[MannyGoldstein]

3. Kabuki Theater - Will Never Happen

Anyone wanna' put $10 on it?

[SkyDaddy7]

7. It won't pass for the same reason...

nothing else worth a damn can...Republican Filibuster!

No, I do not want to lose $10

[harmonicon]

10. I agree that there will never be a Kubuki production...

based discussions between legislative and executive branches of a government discusses liability caps for oil companies. I could be wrong - maybe there is some hip, young, kubuki composer/director working on such a thing right now.

[global1]

4. I Say Put It Out There For Congress To Vote For And Let The Repugs Try To.....

shoot it down. Then blame them if the cleanup in the Gulf doesn't happen because BP will invoke a $75 million cap. Let the Repugs put up or shut up on this issue. Let Jindhal lobby his fellow Repugs in Congress to get the cap lifted to be unlimited.

[MindandSoul]

5. At least. . .it is clearly stated! Whether it happens or not depends on Congress. . .and US!

[one_voice]

6. Good...

put it out there and let those who oppose this suffer the consequences (at the voting booth). I say shine a light on everyone that goes against this. Use it for the mid terms, I bet there are a lot of baggers that will be against it.

[Tandalayo_Scheisskopf]

11. I live in a pretty conservative area.

Ok, frothingly. That said, the LTTE's in the local paper have been running at about...oh, sayyyyy...100:1 in near-projectile-vomiting horror at what has happened and boy, do people Get It.

For all the dull and empty rhetoric trying to blame this on The President, hangnails and other such things, people know EXACTLY what has happened and why.

Psst...I think we have reached a real tipping point.