Nothing new here.
Where is the outrage, the fury, the calls for action by this administration to get off its a$$ and do what it promised when it ran for the job?
Where's the "fierce urgency of now"?
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BP only has to pay out $75 million under the law. That hasn‘t been changed, nor is Congress changing the law, eliminating or raising the $75 million cap that currently exists. The side deal that Obama made with BP is extralegal, outside the law, and has no binding legal power. That $20 billion isn't in an escrow account, and is just talk at this point. And word out today is that BP is refusing to pay fishermen's claims. http://mon
In a meeting in New York last week with the people who are in charge of trying to distribute this money, it was learned that the $20 billion deal has not been escrowed. There hasn‘t been money escrowed at this point at all. Nor would it be securitized. If BP were to move to bankruptcy tomorrow, there‘s no security interest that the US government has in that money. That's what BP told lawyers from eight major law firms that are involved in the litigation last week.
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About Gulf Oil Spill
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Supertankers have the capability of sucking up 21 million gallons a day. Compare that to BP‘s cap system that, in 10 weeks, has been able to get only 28 million gallons total. The reason BP hasn't brought in supertankers is money.
TonyHayward's on a whirlwind tour around China, Libya, to raise cash for BP. He needs BP to look more attractive, with more cash on its books, & putting more supertankers in would cost BP that cash. http://www
Moody‘s & Fitch‘s dropped BP's bond value to just above junk value, which means that BP's cutting back. Rather than bringing any of these supertankers that were talked about weeks ago, BP's putting on a public relations show, a scam, 1,000 people on the beach with shovels & bags to make it look like they're doing something. Then BP dumps fresh new sand on top of tarballed beaches, to cover up the tarballs when government dignitaries like Joe Biden show up for photo ops.
What's really happening is that BP's put dispersants on the oil to sink it to the bottom, so that the oil doesn‘t come up for another year. BP plans to amortize the cleanup costs over 10-15 years (rather than 18 months). BP wants to spread it out. BP's going to let this mess pool in the bottom of the Gulf for years, because it‘s good economics for BP.
KEEP READING
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Relief payments get slashed if fishermen refuse to work for BP
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BP “claims czar”: No compensation for most victims of oil spill
Kenneth Feinberg, appointed by the Obama administration to oversee distribution of a BP-financed escrow account for victims of the Gulf oil spill, has made clear that there will be sharp limitations on those who can receive compensation.
Among those not entitled to compensation from the $20 billion fund, according to Feinberg, are fishermen who operated on a cash basis and tourism and home owners “not directly affected” by the oil spill. These sweeping exclusions will likely bar the majority of the spill’s victims from any compensation.
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Do you know how they're telling whether the fish is safe to eat?
By sniffing it.
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Dangerous Cost Cuts at Alyeska Pipeline: "Yet Another Example of How BP Runs Things"
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Both Paul and Obama should be confronted with this.
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Obama SHOULD be putting BP out of business in the US, but he's not.
Rand Paul ought to be challenged everywhere he appears with testimony of the people in the gulf states who have gotten sick after having contact with the oil and dispersants on the beaches and in the waters off their shores.
Obama ought to be, too.
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Why is HuffPo reprinting the Fox disinformation campaign, that Obama is a socialist?
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