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Republicans for the second time blocked legislation that would increase oil companies' liability
for oil spill damages, setting off criticism from Democrats seeking to make BP pay for the disastrous oil spill in the Gulf of Mexico.
Sen. James Inhofe (R-Okla.) on Tuesday blocked a bill Democrats have put forward to raise the liability
cap from $75 million to $10 billion. He said on the Senate floor he agrees the cap should be raised, but
the Senate should "wait and see where the cap should be."
"If you have it too high you are going to be singling out BP and the other four largest majors and the
nationalized companies, such as China and Venezuela, and shutting out the independent producers," he said.
Sen. Lisa Murkowski (R-Alaska) blocked the legislation last week.
This makes perfect sense. We do not know at this point what the liability should be.
Additionally, what BP should not be responsible for are things like job losses caused by Obama administration action (or even inaction), such as shutting down drilling (an absolutely stupid move on his part).
It is obvious to me that your "knee jerk" response to this story shows a lack of thought about the ramifications of acting too quickly and slapping BP with the entire cost.
Does BP own Ocean Drilling, or were they just the operators of the rig? Who else is involved?
How do you know BP makes "millions a day"? Do you have the figures? Are they making "millions a day" right now?
The Repubs argument that they do not know where the limit should be, simple answer, have NO limit to the Liability.
Yes, wouldn't that be the best answer?
BUT as you can see already in this thread the ""Wealthy/Corporations Are Our God and Only God "" rightists do NOT want BP to be responsible for their mistake. It's Obama's fault and probably Ted Kennedy's, too
The Repubs argument that they do not know where the limit should be, simple answer, have NO limit to the Liability.
As with all things, when there is a safety net you will take more risks. BP knew how much it could lose so it did a cost analysis on how many safety features to use. The banks knew they would get bailed out so they took part in risky lending practices. They lost but the bailout saved them. Now the banking reform bill has a built-in safety net to bail them out again. That will allow them to keep doing what they are doing. If we cap the liability limit at any amount it will give the oil drillers a safety net also. It may not be a big net but it will still be one.
"The Obama administration broke away from Senate Democrats on Tuesday when it echoed a Republican argument against raising liability claims on oil companies."
"Salazar told lawmakers that a drastic increase in liability could drive smaller oil-drilling companies out of business, echoing an argument Republicans have used."
I am not sure why the left is trying to clear the playing field for BP.
"BP and its employees have given more than $3.5 million to federal candidates over the past 20 years, with the largest chunk of their money going to Obama, according to the Center for Responsive Politics. Donations come from a mix of employees and the company's political action committees - $2.89 million flowed to campaigns from BP-related PACs and about $638,000 came from individuals."
LIE, they are against lifting the amount OVER AND ABOVE the amount of damage caused. Why do you think it should be profitable for the government everytime there is an oil spill?
Quote:
Originally Posted by TempesT68
Truly unbelievable. A perfect example of how far big oil has it's grasp on the right.
A perfect example of the left not having a clue what they are talking about.. This is only the 3-4th thread on the same subject, and each time you guys are educated on the facts and the thread dies... Only to have a new one started again..
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and probably Ted Kennedy's, too
