⭐🔥 Click here to check Latest Celeb News & Celebrity Gossip in 2022! 🔥⭐
The Washington Independent
The Washington Independent

Activists Criticize Plan to Use BP’s Future Drilling Revenues to Back Spill Fund

Activists are taking issue with a plan being negotiated between BP and the Obama administration for feeding the fund meant to compensate victims of the oil

Thomas Dixon
News
Last updated: Jul 31, 2020 | Aug 11, 2010

Activists are taking issue with a plan being negotiated between BP and the Obama administration for feeding the fund meant to compensate victims of the oil spill. The plan would require the company to use revenues from its future offshore drilling projects as collateral for a $20 billion escrow fund. The Wall Street Journal, in a story I wrote about yesterday, notes that the agreement would “give both sides an incentive to continue production in the Gulf, scene of the U.S.’s worst-ever offshore oil spill.”

In a letter sent to President Obama today, Public Citizen outlines two problems with the agreement. The letter says:

  • It threatens to inhibit ongoing criminal probes of the company’s probable negligence. A criminal investigation resulting in sanctions imposed against BP – including banning the company from federal leases in the Gulf – will be at odds with the government’s agreement to use BPs leases as collateral for the Fund.
  • It ensures that BP maintains a robust presence in offshore oil drilling despite indications that BP’s management of such operations have placed workers and the environment at risk.
Thomas Dixon | He creates the ideal marketing experience by connecting online brands with their target audiences. He recently completed a research paper on consumer conversion and took part in a community project on SEO optimization. Thomas is working on his Bachelor of Arts in Communications and plans to intern in an online marketing department soon.

Related

$1.3 trillion in federal spending unaccounted for, report finds

Despite calls for independent bodies to keep government accountable, the Sunlight Foundation’s most recent Clearspending report has found the federal

$1.89 billion given to states to fight HIV

The federal government Monday announced more than $1.89 billion in funding to states to fight the HIV epidemic with access to care and with more cash for the failing AIDS Drug Assistance Program. According to an HHS press release , $813 million of that money will go directly to the ADAP programming. An additional $8,386,340 will be issued as a supplement to 36 states and territories currently facing a litany of unmet needs and access issues.

1 Brigade and 1 Battalion

ISTANBUL – It’s 10 p.m. in the lowest level of the Istanbul airport. In 20 minutes I’ll be allowed to board my plane to Kabul, bringing me to the

1. Brian Schweitzer

As governor of Montana, Schweitzer doesn’t represent one of the most highly populated, high-profile electoral states in the country. But this

#1 in Conspiracy Theories

Andrew Young’s tell-all biography of John Edwards, hitting shelves next week, is surging in one Amazon.com category in particular. #1 in Conspiracy

$1 Million for Toomey

Pat Toomey, the former Club for Growth president and leading Republican candidate in Pennsylvania’s 2010 Senate race, has announced a $1 million haul in the

$1 Trillion for Fannie and Freddie?

That is the worst-case scenario, according to Egan-Jones Ratings Co., quoted in a Bloomberg article making the rounds. The agency says that if home prices

$1.3 Million for Brown

The GOP’s candidate in the Massachusetts special election raised more than one million dollars -- double the goal -- in a 24-hour moneybomb on the Ron Paul

Ten Loopholes That Can’t Make It Into FinReg

Dan Pfeiffer, the White House communications director, wrote a blog post that lists the loopholes lobbyists most want inserted into Sen. Chris Dodd’s (D-Conn.)

Bachmann uncomfortable over earmarks ban

Republicans appear to have boxed themselves into a corner with their portrayal of earmarks as wasteful spending, as many of them have backed a moratorium on

Troubled mine holds hope for U.S. rare earth industry

China currently controls 97 percent of the world’s rare earth production. The Mountain Pass Mine could change that -- if it can overcome serious environmental concerns.

© Copyright 2022 The Washington Independent All Rights Reserved

Terms & Privacy | twi.news@washingtonindependent.com

⭐🔥 Click here to check Latest Celeb News & Celebrity Gossip in 2022! 🔥⭐