Breaking: BP Agrees to Set Up $20 Billion Compensation Fund

[Nathanael]

More breaking news:

According to a report by The Associated Press, BP (NYSE:BP) has agreed to finance a US$20 billion fund to reimburse people whose jobs and way of life have been decimated by its offshore oil disaster.

The compensation fund will be independent and it will be managed by lawyer Kenneth Feinberg. Feinberg is the same lawyer who oversaw payments to the families of the victims of the September 11, 2001 terrorist attacks.

Link: http://www.energyboom.com/policy/breaking-bp-agrees-set-20-billion-compensation-fund

[Nuclear Unicorn]

1. We better hope this doesn't cost more than $20 billion

because then BP will say, "But we paid you what you told us to!"

My BF laughed when $20 billion figure was called out by the president.

"Never name your top price up front!" he yelled.

I think he's right.

[stray cat]

2. I think this was considered the starting point.....

[TheMadMonk]

4. Whether or not it's enough. It is well over the odds for what was expected.

$10-15 billion.

[rzemanfl]

3. If Florida loses 50% of its tourism revenue for one year, the

amount lost exceeds $20 billion.