White House Endorses Unlimited Liability Cap For Oil Spillers

[mod mom]

White House Endorses Unlimited Liability Cap For Oil Spillers

Democrats in Congress and officials in the White House are making yet another major push to pass legislation to make the liability for oil companies involved in damaging spills unlimited.

On Monday evening, the White House confirmed that it favors the most recent piece of legislation that would drop any numerical ceiling to the amount of money an oil company like BP would have to pay for economic damages caused by a spill. Currently, the cap is $75 million.

"The president supports removing caps on liability for oil companies engaged in offshore drilling," said spokesman Ben LaBolt. "Oil companies should have every incentive to maximize safety and arbitrary caps on liability create a disincentive to achieve that goal."

The statement was the most detailed the administration has offered to date with respect to the debate surrounding BP's liability. And it reflects a growing sentiment within the White House that more aggressive action (if not optics) need to be in place to stem the fallout of the Gulf crisis.

-snip

http://www.huffingtonpost.com/2010/06/07/white-house-endorses-unli_n_603592.html

GOOD!

[mdmc]

1. lets see the regulation

without oversight and regulation, drill baby drill..

[spanone]

2. well, no shit.

[gateley]

3. We'll have to make it Supreme Court proof -

[phantom power]

4. An endorsement we can believe in, my friends.

[laughingliberal]

5. This is good news! K&R. nt