Politics - Federal law may limit BP liability in oil spill

WASHINGTON (AP) -- A federal law may limit how much BP has to pay for damages such as lost wages and economic suffering in the Gulf Coast oil spill, despite President Barack Obama's assurances that taxpayers will not be on the hook....

View the full article

WASHINGTON (AP) -- A federal law may limit how much BP has to pay for damages such as lost wages and economic suffering in the Gulf Coast oil spill, despite President Barack Obama's assurances that taxpayers will not be on the hook....

 

View the full article

Anyone want to bet that BP's lawyers and execs knew this over a week before the White House did?

Thank Reagan. Gotta keep liability from companies him and Bush were pals with ya know.

.

.

Thank Reagan. Gotta keep liability from companies him and Bush were pals with ya know.

.

.

Christ! Are you serious?

Do some research. Beyond that, you're saying it's Reagan's fault that it wasn't changed to allow for inflation even though it was introduced, signed and enacted after he was out of office.

http://thomas.loc.gov/cgi-bin/bdquery/z?d101:h.r.01465:/

Yep REAGAN it was set up in 1986 http://www.nytimes.com/2010/05/02/us/02liability.html?hp

http://www.businessi...-dollars-2010-5

And OF COURSE further fukked up by Bush senior in August of 90'.

H.R.1465

Title: Oil Pollution Act of 1990

Sponsor: Rep Jones, Walter B. [NC-1] (introduced 3/16/1989) Cosponsors (79)

Related Bills: H.RES.277, H.RES.452, H.J.RES.258, H.R.1393, H.R.1775, H.R.2158, H.R.2223, H.R.2242,

H.R.2291, H.R.2325, H.R.2423, H.R.2453, H.R.2688, H.R.2695, H.R.3003, H.R.3027, H.R.3052,

H.R.3081, H.R.3124, H.R.3224, H.R.3277, H.R.3296, H.R.3394, H.R.3861, S.686

Latest Major Action: 8/18/1990 Became Public Law No: 101-380.

--------------------------------------------------------------------------------

COSPONSORS(79), ALPHABETICAL [followed by Cosponsors withdrawn]: (Sort: by date)

Rep Ackerman, Gary L. [NY-7] - 5/23/1989 Rep Akaka, Daniel K. [HI-2] - 3/16/1989

Rep Atkins, Chester G. [MA-5] - 5/23/1989 Rep Bateman, Herbert H. [VA-1] - 4/11/1989

Rep Bennett, Charles E. [FL-3] - 3/16/1989 Rep Bentley, Helen Delich [MD-2] - 3/16/1989

Rep Borski, Robert A. [PA-3] - 3/16/1989 Rep Bosco, Douglas H. [CA-1] - 3/16/1989

Rep Boxer, Barbara [CA-6] - 3/16/1989 Rep Carper, Thomas R. [DE-98] - 3/16/1989

Rep Chandler, Rod D. [WA-8] - 5/23/1989 Rep Clement, Bob [TN-5] - 5/23/1989

Rep Coble, Howard [NC-6] - 3/16/1989 Rep Conte, Silvio O. [MA-1] - 5/23/1989

Rep Davis, Robert W. [MI-11] - 3/16/1989 Rep de la Garza, E. [TX-15] - 3/21/1989

Rep de Lugo, Ron [VI] - 3/16/1989 Rep DeFazio, Peter A. [OR-4] - 6/8/1989

Rep Dellums, Ronald V. [CA-8] - 4/11/1989 Rep Dicks, Norman D. [WA-6] - 6/29/1989

Rep Dingell, John D. [MI-16] - 4/11/1989 Rep Dixon, Julian C. [CA-28] - 6/29/1989

Rep Dwyer, Bernard J. [NJ-6] - 3/16/1989 Rep Dyson, Roy [MD-1] - 3/16/1989

Rep Eckart, Dennis E. [OH-11] - 3/16/1989 Rep Erdreich, Ben [AL-6] - 5/23/1989

Rep Fascell, Dante B. [FL-19] - 3/16/1989 Rep Fields, Jack [TX-8] - 4/26/1989

Rep Foglietta, Thomas M. [PA-1] - 3/16/1989 Rep Ford, William D. [MI-15] - 4/26/1989

Rep Frank, Barney [MA-4] - 3/16/1989 Rep Gallo, Dean A. [NJ-11] - 5/23/1989

Rep Goss, Porter J. [FL-13] - 3/16/1989 Rep Hertel, Dennis M. [MI-14] - 3/16/1989

Rep Hochbrueckner, George J. [NY-1] - 3/16/1989 Rep Hubbard, Carroll, Jr. [KY-1] - 3/16/1989

Rep Hughes, William J. [NJ-2] - 3/16/1989 Rep Hutto, Earl [FL-1] - 3/16/1989

Rep Kennedy, Joseph P., II [MA-8] - 3/16/1989 Rep LaFalce, John J. [NY-32] - 4/11/1989

Rep Lagomarsino, Robert J. [CA-19] - 4/11/1989 Rep Lancaster, H. Martin [NC-3] - 3/21/1989

Rep Laughlin, Greg [TX-14] - 3/16/1989 Rep Lent, Norman F. [NY-4] - 3/16/1989

Rep Lewis, John [GA-5] - 3/21/1989 Rep Lipinski, William O. [iL-5] - 3/16/1989

Rep Lowey, Nita M. [NY-20] - 5/23/1989 Rep Machtley, Ronald K. [RI-1] - 9/11/1989

Rep Manton, Thomas J. [NY-9] - 3/16/1989 Rep Miller, John R. [WA-1] - 3/16/1989

Rep Mineta, Norman Y. [CA-13] - 3/16/1989 Rep Oberstar, James L. [MN-8] - 4/11/1989

Rep Ortiz, Solomon P. [TX-27] - 3/16/1989 Rep Owens, Major R. [NY-12] - 6/8/1989

Rep Pallone, Frank, Jr. [NJ-3] - 3/21/1989 Rep Pelosi, Nancy [CA-5] - 3/16/1989

Rep Pickett, Owen B. [VA-2] - 3/16/1989 Rep Price, David E. [NC-4] - 6/8/1989

Rep Richardson, Bill [NM-3] - 5/23/1989 Rep Rinaldo, Matthew J. [NJ-7] - 6/29/1989

Rep Saiki, Patricia [HI-1] - 3/16/1989 Rep Saxton, Jim [NJ-13] - 3/21/1989

Rep Schneider, Claudine [RI-2] - 3/16/1989 Rep Shays, Christopher [CT-4] - 6/8/1989

Rep Shumway, Norman D. [CA-14] - 6/29/1989 Rep Smith, Lawrence [FL-16] - 3/21/1989

Rep Solarz, Stephen J. [NY-13] - 3/16/1989 Rep Studds, Gerry E. [MA-10] - 3/16/1989

Rep Swift, Al [WA-2] - 4/26/1989 Rep Tallon, Robert M. (Robin) [sC-6] - 3/16/1989

Rep Tauzin, W. J. (Billy) [LA-3] - 3/16/1989 Rep Thomas, Lindsay [GA-1] - 3/16/1989

Rep Torres, Estaban Edward [CA-34] - 3/21/1989 Rep Torricelli, Robert G. [NJ-9] - 5/23/1989

Rep Traficant, James A., Jr. [OH-17] - 3/16/1989 Rep Unsoeld, Jolene [WA-3] - 3/16/1989

Rep Walgren, Doug [PA-18] - 3/16/1989 Rep Walsh, James T. [NY-27] - 6/29/1989

Rep Young, Don [AK-98] - 3/16/1989

Notice Nancy Pelosi, Barbara Boxer, Barney Frank, and Joseph Kennedy's names on the co-sponsor list? It looks like this was a bill primarily supported by Democrats a forced liability insurance program imposed on oil companies.

We're gonna pay for it one way or another, anyway... either through our tax dollars or higher prices at the pump.... or both.

Correct, costs imposed on corporations are almost entirely paid by the consumer.