Make oil Corps. Pay the whole bill
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As the last year has shown, the devastating oil spill from Deepwater Horizon is already likely worse than the 1989 Exxon Valdez disaster. Estimates of damage to the fragile Gulf environment, to business and the public range into the multiple billions of dollars. BP, Halliburton and Transocean must pay. Yet, current law limits corporate liability to only $75 million. Proposed Big Oil Bailout Prevention legislation, S. 3305, S. 3306 and H.R. 5214, addresses this inequity by raising the liability cap for offshore oil well spills to $10 billion. I urge Congress to act at once on this essential legislation, with changes. Enforce President Obama's promise, make the companies pay for all damages; for every accident.
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