BP source: Showdown looms over spill costs - "BP is worried about widening demands by WH"

[flamingdem]

http://www.msnbc.msn.com/id/37602159/ns/disaster_in_the_gulf

BP source: Showdown looms over spill costs

Obama administration 'planning to take action' to ensure money available

updated 7:27 p.m. ET June 9, 2010

WASHINGTON - The Obama administration is threatening to impose new penalties on British energy giant BP over the worst oil spill in U.S. history, and the company believes it may be heading for a showdown with the White House, a BP source said Wednesday.

Turning up the heat on the beleagured company, a senior U.S. Justice Department official said that the department was "planning to take action" to ensure BP had enough money on hand to cover damages from the Gulf of Mexico spill.

U.S. Interior Secretary Ken Salazar told a Senate hearing he would ask the British oil giant to repay the salaries of any workers laid off because of the six-month moratorium on deepwater exploratory drilling imposed by the U.S. government after the spill. (MORE)

EXCERPT:
BP is worried about widening demands by the White House on spill-related costs, the BP source said. While the company has said it will pay for the clean-up and direct damages to those affected by the spill, the moratorium was a government decision and costs related to it were a different matter, the source said.

[neverforget]

1. How come I have the feeling that getting money out of BP is going to be

difficult? :shrug:

[flamingdem]

2. Obama has had his eye on the ball with BP, it's ALL about the Benjamins

He knows already that they are liars and cheaters so they have to be corralled with cunning.

[caledesi]

10. Totally agree! Obama KNOWS that BP lies. nt

[Abq_Sarah]

8. Well

It certainly seems to be heading that way.

The administration needs to muzzle Salazar for the time being. Demanding that BP pay the salaries of people harmed by a government moratorium is going to do nothing but drive stock prices down which reduces the value of BP. BP needs continuing investors for a healthy cash flow and I want them to stay healthy as a corporation until they've paid legitimate damages and when they're done, I don't give a shit what happens to them.

[gateley]

3. I've used a lot of adjectives to describe BP lately, but 'beleagured' isn't one of them.

They told us they had the $$$ to pay those billions in dividends AND pay for the disaster. A reporter said they have so. much. money. they're almost like an ATM.

I hope we're able to get fair compensation from them, and that we can do what it takes so it doesn't get hung up in court for years a la Exxon (until the next Republican administration, most likely).

[flamingdem]

4. I think the only incentive is to retain their ongoing business with the USA

The BP lawyers are probably burning the midnight oil hehe on this.
:hi:

[gateley]

5. When Obama intimated that maybe BP won't be able to drill in our waters any more,

the reporters said that is worth billions for them, so you're probably right.

Which is why I'm flummoxed to keep hearing that they continue to be 'less than transparent'. It's obvious Obama is pissed, you wouldn't think they'd be doing anything to piss him off even more!

:hi:

[Coyote_Bandit]

6. There isn't enough money

in the world to make all the innocents whole again.

[flamingdem]

7. sigh. I'm tired of that term made whole, it's a financial term

"Made whole" in the Gulf might mean above the poverty level but still exposed to toxins for decades to come.

[Catshrink]

9. Sounds like time for a strongly worded letter.

Geez. Seize their assets already - take the $ before they pay out the dividends. Put Hayward in Gitmo.

[caledesi]

11. The demands from the WH will get WIDER! boo-hoo! nt

[Scuba]

12. Nationalize Now !!!

[Are_grits_groceries]

13. They better get a lot of money from BP now,

and put it in an account that will be used to pay for damages and compensate the people hurt by the gusher.

Bp is stalling and there is a danger of them declaring bankruptcy. We will be left holding the entire financial bag.
Here is an article about BP and bankruptcy:
http://www.nytimes.com/2010/06/08/business/08sorkin.html?ref=business