White House spill plan would subject BP to increased liability

[babylonsister]

White House spill plan would subject BP to increased liability
By Jordan Fabian - 05/12/10 11:26 AM ET


Legislation proposed by the Obama administration in response to the Gulf oil spill would raise the liability cap on economic damages for companies responsible for offshore disasters, and apply the new cap retroactively to BP.

"We will aggressively pursue full compensation for damages from BP and other responsible parties," President Barack Obama's energy czar, Carol Browner, told reporters on a conference call. "We are updating the statute to address all situations and, yes, we are lifting the cap retroactively."

Current law limits the liability of responsible companies to $75 million, but some lawmakers on Capitol Hill want to raise the ceiling to $10 billion - or perhaps more.

White House officials refused to say whether they think that level is appropriate, saying they will work with Congress to determine an acceptable cap.

more...

http://thehill.com/blogs/blog-briefing-room/news/97459-wh-spill-plan-would-subject-bp-to-increased-damage-claims

[AndyA]

1. No cap on liability is appropriate.

The damage hasn't even really begun, yet.

Cancelled vacations. Fishermen without jobs. Dead Dolphins washing up on shore. We haven't seen anything yet!