"House Republican leader John Boehner of Ohio, asked whether he would support raising the damage limit, said his partyâs lawmakers first want to âfind out who really was responsible for this and make sure that the law is enforced.â Of course Republicans are against raising the cap on BP.That means they want the Government to pay.More corporate welfare for the rich from Republicans
He said he would immediately set a framework for withdrawal. Well, 1.5 years into his presidency we have yet to see it... Quit dodging the question, where did I "seem to suggest" that it was a good idea and still is?
Who was president in 1986 and 1990 ? NYT: 1990 law limits BP's damage liability to $75 million Matthew Wald of The New York Times reports the details of the previously obscure Oil Spill Liability Trust Fund, a $1.6 billion fund financed by a minuscule tax on oil -- eight cents per barrel, which Wald says is roughly 0.1%. According to Wald, the fund is designed to pay damage claims resulting from oil spills, though not cleanup and containment costs. But that's not all it does. It also limits the liability of oil companies like BP. Under the law that established the reserve, called the Oil Spill Liability Trust Fund, the operators of the offshore rig face no more than $75 million in liability for the damages that might be claimed by individuals, companies or the government, although they are responsible for the cost of containing and cleaning up the spill. The fund was set up by Congress in 1986 but not financed until after the Exxon Valdez ran aground in Alaska in 1989. In exchange for the limits on liability, the Oil Pollution Act of 1990 imposed a tax on oil companies, currently 8 cents for every barrel they produce in this country or import. The tax adds roughly one tenth of a percent to the price of oil. Another source of revenue is fines and civil penalties from companies that spill oil. According to Wald's report, there have been 51 instances in which damages under the $75 million liability cap has been exceeded. That figure will certainly be exceeded with BP's Deepwater Horizon spill. Up to $1 billion from the fund can be used for any single accident, but in this case, $1 billion is likely to be peanuts. In other words, it was a pretty sweet deal for oil companies: they agreed to a tiny tax which they can pass on to consumers, and in exchange their liability is limited to $75 million. Because they can pass the oil tax along to consumers, it's like they got the liability caps for free. If this law does indeed carry the final word, and there isn't another way to hold BP accountable for the damage it has caused, then you can chalk up another victory for corporate socialism. And you can bet your bottom dollar that the right won't shed a tear over it.
forgive me but your so evasive hard to know your position on anything to clear the air, do you agree with GW's decision to start the war?
http://seattletimes.nwsource.com/html/nationworld/2010869240_apmliraq.html?syndication=rss US Marines Iraq command ends By ADAM SCHRECK Saturday, January 23, 2010 at 4:14 AM Associated Press Writer RAMADI, Iraq â The U.S. Marines marked the end of nearly seven years in Iraq on Saturday by handing the Army their command of Anbar province, once one of the war's fiercest battlefields but now a centerpiece of U.S.-Iraqi cooperation. The changing of the guard - overseen by military brass and some of Anbar's influential Sunni sheiks - signals the start of an accelerated drawdown of American troops as the U.S. increasingly shifts its focus to the war in Afghanistan. American commanders are trumpeting security gains in places such as the western Anbar province as a sign that their partnership with Iraqi security forces is working, and that the local troops can keep the country safe [/B]