Skip to comments.BP wants to stop paying Gulf oil spill victims
Posted on 07/16/2011 6:10:02 PM PDT by Pan_Yan
CHICAGO BP wants to stop paying most people affected by the massive 2010 Gulf of Mexico oil spill for potential future damages because the region has recovered, a document released Friday said.
The tourism industry is booming, all federal fishing grounds have reopened, and the shrimp catch has been plentiful, BP said.
"The current economic data do not suggest that individual and business claimants face a material risk of future loss caused by the Deepwater Horizon oil spill," BP said in a 29-page document filed with the Gulf Coast Claim Facility, which is handling compensation claims.
The compensation fund has so far paid more than $4.5 billion to more than 195,000 claimants and made around $430 million in additional offers that are under consideration by claimants.
BP said it "remains committed to paying all legitimate claims" but said a "reevaluation" of the formula for calculating damages is required due to "the current state of the Gulf economy."
(Excerpt) Read more at google.com ...
BO shook them down for $20 Billion. What happened to it???
Does the rest of the $20 billion go to Obama’s stash/reelection campaign?
If I recall correctly BP's lawyers wrote that deal very carefully. With deferred payments, the hit on their revenue and tax shenanigans the $20 billion didn't really cost them anything. They've paid $4.5 billion and will walk away with the rest not paid and the tax breaks intact.
And Obama and the Democrats won’t get any of this
BP stash? The same Obama who has never accounted for all those thousands of “small contributions” by computer that he cashed in on in the ‘08 campaign? The same Obama who had the help of outfits such as ACORN and every sleazy union in the country?
Sorry, I’m not convinced that BP’s money won’t find its way into tight races for the Senate next year. It’s for the “common good,” doncha know.
Jamie Gorelick managed to wrangle a position as a liaison representing BP in the negotiations.
The democrats had an inside man on the job. A woman actually. Post from exactly 1 year ago
shrimp catch plentiful?
Nonsense. The democrats told us it was the END OF THE WORLD.
Some on here posted about “seas turning to blood”
Do you realize you were had yet?
That woman can smell a nickle at the bottom of a 10 ton dung heap on a hot day from 5 miles upwind. She could have been honest and gotten rich. Instead she’s been one of the greatest scam artist of the last 20 years.
She is the epitome of the shadow government. She’s been involved in every major scandal since the OKC bombing.
Carvile and the MSM were Howling 24/7 about BP until all of a sudden they all shut up at once. That was the day they Graft and payoff amount was agreed to.
I imagine that the debate will center around “Does BP or Obama have the balance of the cash in which account?”
The problem being that less than 1% of voting Americans would recognize most of those names. Those of us in that 1% pray a lot.
Has every bit of Oil damaged wetlands been restored?
Stephen Rattner who is her attorney has an even larger collection of friends in high places.
I think the main harm was done to the economy of these areas by irresponsible reporting.
I have a Nephew who lives near the beach in Destin. He told me that he has not seen a single sign of the spill. He did say a couple of his friends had seen a few tar balls but they were rare.
In other words if the tourists had actually come to the beaches, they would have been fine.
When he finally got around to it the first thing Obammy did was send an army of DOJ attorneys down there. Next he sent FEMA. Seems that a couple of the bigger hotels did OK filling rooms with federal employees at least for a while.
It was the little guys who took a media driven hit.
Funny how that worked, huh?
The story doean’t seem to match the assertions in the headline. The formula for the original payoff was set based on a worst case scenario. Now that it hasn’t happened, they’re proposing to modify the formula to match the reality.
Wonder who the Bag Man was? But when the dough changed hands it was instant silence.
Freezer money for Obama.
Where does fair compensation become feed-me-for-life welfare? Who gets to determine that?
Hahahah once you expose the vein to the vampires they will never give it up till they drain it dry!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.