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This $20bn does not include civil penalties, where BP is liable for up to $4,300 for every barrel spilt if it is found to have acted negligently. If 40,000 barrels per day keeps flowing until August, when a relief well is hopefully completed plugging the leak for good, and BP does not improve on its current collection rate, this could add a further $14bn to the bill.t
But it is not in Obama's interests for the company to go bust; he will want it to remain a cash cow – not for its shareholders, but to make good the damage which has been done – however much or however long it takes.
This fund was exhausted by the end of FY2003; since that time funding for these orphan shares has been appropriated by Congress out of general revenues.
Originally posted by earthdude
When a president is elected by a majority of the voters he is not considered a dictator. This thread is one of many that have a misleading and wrong title, ment to spread misinformation. Now Bush was almost a dictator. Notice how BP put up no resistance? Do you think there was some secret threats to BP?
Originally posted by Danbones
reply to post by earthdude
perhaps you missed all the vote fraud convictions ohio and florida?
the voting machine fiasco
here watch this
Roberts: 'AIPAC purchases US elections'
he was a serious official under Reagan
Originally posted by Geeky_Bubbe
I was utterly flabbergasted about the *demand* from President Obama that BP fund a 20 billion dollar escrow account.
America is a nation of Laws not a nation where our government "just makes it up as it goes along." This is every bit as an egregious affront to the Constitution as Padilla being imprisoned w/o a trial.
Sorry to disagree with the popular [and populist] sentiment in this thread but this country has LAWS that deal with the issues of the BP oil well disaster. BP was paying the claims. BP had admitted full financial liability. BP was paying the bills presented to it by the US government. No behavior on BP's part warranted Obama's demand.
Thuggery in the Oval Office. Plain and simple.
In one meeting President Obama tossed the Constitution right down the crapper and we have the majority of folk in this country *cheering*.
It's a sad day in America. A day of mourning. And people are cheering.
[edit on 17/6/10 by Geeky_Bubbe]