Sanders Calls for BP to Pay for Gulf Oil Disaster

[Lars77]

Run time: 04:19 https://www.youtube.com/watch?v=JvCboeNRF9M   Posted on YouTube: May 25, 2010 By YouTube Member: SenatorSanders Views on YouTube: 307   Posted on DU: May 26, 2010 By DU Member: Lars77 Views on DU: 612

 

[JDPriestly]

1. Unbelievable that the Obama administration is not seeking to

raise the cap. I realize that a law raising the cap might not pass Supreme Court scrutiny, but still, it is really unbelievable that the administration would not at least encourage Congress to express its outrage at BP's carelessness and neglect by passing this bill.

The administration should encourage passage of a bill lifting the cap and then, still, go after the alternative ways of making sure that BP pays for the damages it caused.

I do not want to see the money that should be going to social programs including Social Security and education going to relieve BP from bearing the costs of the damages it caused. The taxpayers have paid enough for the greed of big businesses over the past couple of years. No, no and no, no, no.

Obama is absolutely wrong on this.

[happygoluckytoyou]

2. washing the dishes IS PART OF THE MEAL... all companies should have that included in their budgets

even the scouts know to clean up on the way out

[florida08]

3. well

WASHINGTON (AP) -- Responding to the massive BP oil spill, Congress is getting ready to quadruple -- to 32 cents a barrel -- a tax on oil used to help finance cleanups. The increase would raise nearly $11 billion over the next decade.

The tax is levied on oil produced in the U.S. or imported from foreign countries. The revenue goes to a fund managed by the Coast Guard to help pay to clean up spills in waterways, such as the Gulf of Mexico...

The Oil Spill Liability Trust Fund has about $1.5 billion available. Under current law, only $1 billion can be spent from the fund on a single incident. The bill would increase the spending limit to $5 billion....

Guith said the tax could be passed on to consumers, depending on the ability of oil companies to raise gas prices in response to a tax increase.

Lawmakers felt the tax increase, to 32 cents a barrel, was reasonable, said Democratic Rep. Sander Levin, chairman of the tax-writing House Ways and Means Committee.

"We just decided to take a look at what we thought would be a reasonable increase," Levin said.

The American Petroleum Institute has not taken a position on the tax increase, though a spokeswoman said Congress should study the ramifications before acting.

We understand we need to have an insurance policy in order to cover people in the event of a spill," said the spokeswoman, Cathy Landry. "At the same time we need to have a vital oil and gas industry."

The bill does not address a federal law that caps liability at $75 million for economic damages beyond direct cleanup costs. Democratic Senators tried to pass a bill last week that would have increased the cap to $10 billion, but they were blocked by Republicans.

The oil industry says such a high cap would make it difficult, if not impossible, to insure oil rigs.

BP said Monday its costs for responding to the spill had grown to about $760 million.

http://www.manufacturing.net/News-Oil-Tax-Could-Quadruple-052510.aspx