Who Will Pay for Gulf Oil Spill? Tantrum Tuesday
Oil giant, BP says they’ll pay for “legitimate claims” relating to the April 20th oil platform explosion and spill. It’s not a moral decision – it’s federal law. The same law that caps liability at $75 million.
Today’s tantrum is still building momentum based upon BP 
executive statements, state and federal government concerns and what we know happened after the notorious Valdez Alaska spill.
The damages at this point are incalculable but they start with the deaths of 11 platform workers and continue through the long-term health concerns for coastal residents. Several industry experts believe the costs will exceed $14 BILLION.
Congress has started talking about altering the cap since no one has challenged the figure in court. Be sure to let your legislators know that this cap is ridiculously low considering the extensive damage.
BP is spending $6 million a day in hopes of containing millions and millions of gallons of oil from spreading as far away as the Atlantic Ocean. But they are already starting a campaign of words to support their position and limiting liability. They lease the platform and others are responsibility for other aspects of its operation so let the finger pointing begin.
Who will pay the millions spent by the various government agencies from the EPA to Homeland Security working 24/7 to minimize the damage and start the clean-up. And how about the economic impact on an area still recovering from Hurricane Katrina?
BP is already circulating $5,000 damage offers where signers release BP from all future claims. Standard procedures but admittedly a bit overbearing in light that the oil is still floating around.
So who will pay for what may end up being the largest oil spill 
in U.S. history – citizen-consumers will. The federal Oil Pollution Act (enacted after the Valdez incident) established a fund where 8 cents of every barrel of oil (which consumers eventually cover) is set aside for spillage cleanup.
It took 20 years for the Exxon Valdez accident liability trials to complete the process of finalizing Exxon’s payouts – including a stop in the U.S. Supreme Court.
BP has a history of other major spills off the Alaska, Texas and Louisiana coasts. Lawsuits and finger-pointing has already begun from the April 20th accident. Lots of people and animals have been hurt and will continue to be victims if we let it take 20 years to settle multiple lawsuits.
It is our responsibility as U.S. citizens to keep in touch with what is happening in the Gulf.
All of us pay for the care of Mother Earth – one way or another.
