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BP Oil Spill Injury Claims

8/27/2010
Brian Beckcom
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BP loop holing its way out of $20 billion fund

BP’s $20 billion oil disaster compensation fund is not all that it appears to be. Apparently  negotiations between the Administration and the company significantly undermined the fund’s purpose.

For example, there are no disclosure requirements. Money can be spent on reimbursing state and local response which reduces the amount for victims. The fund is capped at $20 billion even though administrator Ken Feinberg previously said it was not.

In essence: full victim compensation is threatened and BP has incentives to expand risky Gulf production.

Send President Obama an email urging him to fix the fund.

Labels: BP Gulf Gulf oil spill Ken Feinberg oil disaster compensation fund President Obama


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