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View Full Version : Oil damage caps - Why wouldn't they be liable ?


Silver_2000
05-05-2010, 06:03 PM
As the White House works with Congress to change a law that caps at $75 million the liability of BP and other companies for economic damages on businesses and the tourism industry, administration officials in recent days have repeatedly highlighted the exceptions to the cap.

I understand there is a 1990 agreement but WHY would we allow some of the most profitable companies in the world to have such a small damage cap from operations ?

http://www.foxnews.com/politics/2010/05/05/bp-costs-add/?loomia_ow=t0:s0:a4:g4:r4:c0.000000:b0:z5
PUMP
05-05-2010, 06:21 PM
Big payoffs to members of Congress?????
Moonshine
05-05-2010, 08:04 PM
big payoffs to members of congress?????

+1
dboat
05-05-2010, 10:13 PM
The cap was set because of the Exxon Valdez.. never adjusted for inflation of size of the spill.. they have a bill to raise the limit to $10 Billion in process.

Dana
Silver_2000
05-05-2010, 10:59 PM
The cap was set because of the Exxon Valdez.. never adjusted for inflation of size of the spill.. they have a bill to raise the limit to $10 Billion in process.

Dana
Blah blah blah - yeah but WHY ? They get the profits while we take the risks
dboat
05-06-2010, 05:02 AM
Blah blah blah - yeah but WHY ? They get the profits while we take the risks

Thats the way it works.. companies keep profits for shareholders

Dana