Third Time: GOP Blocks Bill to Raise Oil Spill Liability Cap

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Tuesday, May 25, 2010 at 5:14 pm

Twice this month, Senate Democrats have tried to pass their proposal hiking the oil spill liability cap from $75 million to $10 billion. And twice Republicans have objected, calling the $10 billion figure “arbitrary” (which is precisely what the Obama administration has called it).

Today, the bill’s sponsors tried a different tack, offering a version of the bill that removed the liability cap altogether.

It went exactly nowhere.

Objecting for the Republicans, Sen. Jim Inhofe (Okla.) said that putting oil companies on the line for unlimited liability would push all but the largest companies out of the offshore drilling business — the same argument he made last week in rejecting the $10 billion cap. In fact, Inhofe said, removing the liability cap could push even the giants of the industry — BP, Shell, Chevron, Exxon-Mobil and ConocoPhillips — out of contention for contracts, leaving only the big nationalized firms (like those in China and Venezuela) to do the drilling.

“If you take the 10 billion [dollar cap] off and make it unlimited,” Inhofe said Tuesday on the Senate floor, “that could very well shut out even the five [oil giants], and leave nothing but national oil companies in a position to be doing [offshore drilling].”

Back to the drawing board for Sen. Robert Menendez (D-N.J.) et al.

Comments

23 Comments

DBB
Comment posted May 25, 2010 @ 9:53 pm

F this guy…ain't nothing but a Republican boob…


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Pingback posted May 26, 2010 @ 2:11 pm

[...] For the third time, Big Oil's allies in the Senate block legislation to hold BP–not taxpayers–accountable for damage [...]


monkey99
Comment posted May 27, 2010 @ 5:31 am

It's time to get with alternative energy sources. BP's criminal blunder in the Gulf just underscores it. For all the damage the oil will cause, it wouldn't have amounted to anything but a pittance in regard to how much oil we consume. Even if it didn't happen, the oil coming out of that well wouldn't supply all the cars in this country for but for a day….If that.

In the meantime, our southern coast (and maybe the eastern seaboard) will be mired in oil. Wildlife and habitat? Let's not go there.

This is just another glaring, prime example of why we should not let corporate interests dictate ANYTHING in this country. Inhofe is bought and paid for. I wonder what his kick-back was for his protectionism.


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norris hallo
Comment posted May 29, 2010 @ 3:55 pm

If Republicans keep siding with Oil Companies on this issue of reparations they are going to have a lot of explaining to do.
Americans expect oil companies to step up to the plate and pay for all damages
10 billion dollars is probably what it will take to clean up the gulf coast mess.
BP has already sunk a billion dollars into capping the spill.
Opposing the 10 billion dollar fine ceiling on the grounds that it might “harm the smaller drilling companies” is giving a pass to smaller companies to create another disaster of this magnitude.
Americans don't care whether the company that causes a spill is big or small.
They only care that whomever it is, they'll pay up to 10 billion dollars in damages.
Drilling in environmentally sensitive areas comes with a price…and oil companies should be expected to pay for it.


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Pingback posted May 30, 2010 @ 2:44 am

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Norrishall
Comment posted May 30, 2010 @ 3:09 pm

By opposing a law that would make oil companies responsible for the cost of an oil spill…no matter what the cost, the Republicans are showing whose side they are on….and it isn't the taxpayer.
Where are these kooks coming from and how are they being allowed to get away with it by claiming that to make an oil company responsible for unlimited costs might be too big a burden to bear.
I can see where they are headed.
BP may end up being asked to pay 10s of billions of dollars to stop the leak, clean up the mess and compensate people for their losses.
Republicans are worried the price may be too high for the company and are seeking to limit BP's exposure.
Problem is…what BP doesn't pay…the US taxpayer and small businesses will end up paying


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makaainana
Comment posted June 1, 2010 @ 7:43 pm

Why do I have to learn this on this site?

Why is not Obama telling me this with indignation and anger on national TV?

Who is running the circus? BP is going to give the US a new Ringmaster if Washington does not watch out.


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Comment posted October 13, 2010 @ 8:21 am

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