Pelosi wants oil spill liability bill on the floor ‘quickly’ – aide

[babylonsister]

Pelosi wants oil spill liability bill on the floor ‘quickly’ – aide
By Ben Geman - 05/05/10 03:59 PM ET


House Speaker Nancy Pelosi (D-Calif.) wants legislation on the House floor soon that would greatly raise the $75 million cap on oil company liability for economic damages from offshore spills, a spokesman said Wednesday.

“The Speaker supports this legislation and hopes it will come to the floor quickly,” spokesman Drew Hammill said in an email. The White House and several Senate Democrats are also pressing for action on the matter in the wake of the Gulf of Mexico oil spill.

Senate Majority Leader Harry Reid (D-Nev.) said Wednesday that he supports legislation to raise the cap, but declined to say when he would schedule the bill for floor consideration.

Several House and Senate Democrats introduced legislation this week – dubbed the “Big Oil Bailout Prevention Act” – that would raise the cap on economic damages under the 1990 Oil Pollution Act to $10 billion for offshore oil well spills, among other provisions.

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But Pfeiffer also noted that under existing law, “if BP is found to be grossly negligent or to have engaged in willful misconduct or conduct in violation of federal regulations, then there is no cap under this specific law for damages. Simply put, the $75 million cap on damages under the Oil Pollution Act would not apply under these circumstances.”

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http://thehill.com/blogs/e2-wire/677-e2-wire/96255-pelosi-wants-oil-spill-liability-bill-on-the-floor-quickly-aide