Wednesday, June 30, 2010
Lifting the liability cap
Has been approved in Senate committee. They voted approval of removing the liability limit and making it retroactive.
The committee voted to eliminate the current $75 million cap on the amount of compensation companies would pay local communities for economic losses and the impact of offshore spills on natural resources.BP fully expects to be protected by its well paid cadre of Republican Oily Boyz.
The change, if approved and made law, would apply retroactively to BP Plc's massive Gulf spill, although the company already has said it would cover all costs, which will run into the billions of dollars.
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