Politics

Shifting BP's Clean Up Costs to Consumers? Say It Ain't So!

By Lisa Graves

Who is going to pay to clean up BP's disastrous oil spill, besides BP? After all, they made $14 billion in profit last year alone. BP has asserted it will pay all "legitimate claims" for damages -- talk about a lot of wiggle room there -- but beyond actual cleanup costs, BP's economic damage liability is legislatively, and outrageously, capped at $75 million, a pittance to a company that made 186 times that amount in profit in 2009. Senate Democrats attempted to increase the liability cap to $10 billion by proposing and passing a bill, but their efforts were thwarted by Senate Republicans. The current tally for the cleanup cost stands at $760 million, but that is surely understated.

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Full post as published by PR Watch on May 26, 2010 (boomark / email).