BP Apology?

[04 Venom]

Do you think that Joe Barton's (R-Texas) apology to BP yesterday for the "20 billion dollar shakedown" (the escrow account set up to pay for claims) had anything to do with the $1.4 million in campaign donations he has received from the oil industry (the most of anyone in Congress)? :o

[cstreu1026]

Personally I think it was wrong of him to apologize. He had it right the first time. I would suggest the government treat BP and their open check book with kid gloves because they could just as easily say "see you in court" and no one on the Gulf coast would see a dime from the for the next 20 years.

[04 Venom]

Personally I think it was wrong of him to apologize. He had it right the first time. I would suggest the government treat BP and their open check book with kid gloves because they could just as easily say "see you in court" and no one on the Gulf coast would see a dime from the for the next 20 years.

The solution for the "see you in court" response is an injunction in the federal courts and a court ordered and monitored escrow account. BP wisely decided that the "see you in court" answer would have prompted a thermonuclear response from the public and government alike. My guess is that BP will eventually pay multiples of the initial $20 billion dollar figure.

[mustang8998]

Do you think that Joe Barton's (R-Texas) apology to BP yesterday for the "20 billion dollar shakedown" (the escrow account set up to pay for claims) had anything to do with the $1.4 million in campaign donations he has received from the oil industry (the most of anyone in Congress)? :o

Really?

Are you serious. A senator actually received money from an oil company?

I never thought that would happen.

Damned Republicans, anyway!

(Now go look up all the (OIL) monies, donated to all of the candidates running for any office and see where that arguement stands)

[djom1cincy]

http://www.factcheck.org/elections-2008/obamas_oil_spill.html
just do a google search of -oil company donations Obama. He is the biggest recipiant of oil money ever. Him talking hard about oil companies is a big joke. Wake up people.

[k062693w]

http://www.factcheck.org/elections-2008/obamas_oil_spill.html
just do a google search of -oil company donations Obama. He is the biggest recipiant of oil money ever. Him talking hard about oil companies is a big joke. Wake up people.
Actually that was gone over a few weeks ago ... And the discovered that McCain/Palin aka the crazy B#$ch from Alaska received almost 10 times the campaign contributions from oil companies as Obama !!! And don't forget the 2 OIL MEN that just left office ... LMAO

[cstreu1026]

The solution for the "see you in court" response is an injunction in the federal courts and a court ordered and monitored escrow account. BP wisely decided that the "see you in court" answer would have prompted a thermonuclear response from the public and government alike. My guess is that BP will eventually pay multiples of the initial $20 billion dollar figure.

BP could have easily stood back and said they were only liable for $75 million in damages and $1 billion in clean up costs under federal law and fought it court when the government tried to collect more. The whole time the US tax payers would be footing the bill and it would likely be 20 years or more before any money flowed from the BP coffers. I think they deserve more credit than they are being given since they have chosen to pay up and not hide behind lawyers. Not many companies would have done that.

[mustang8998]

BP could have easily stood back and said they were only liable for $75 million in damages and $1 billion in clean up costs under federal law and fought it court when the government tried to collect more. The whole time the US tax payers would be footing the bill and it would likely be 20 years or more before any money flowed from the BP coffers. I think they deserve more credit than they are being given since they have chosen to pay up and not hide behind lawyers. Not many companies would have done that.

Well said!

Not to mention, BP wants this to end sooner than later, as they are the ones loosing money, in oil, clean-up, fines, etc......................

I also still do business, with my local BP dealer. I don't buy gas there, but beer, soda, lottery tickets, etc... He is an independent and had nothing to do, with the spill.

[k062693w]

Well said!

Not to mention, BP wants this to end sooner than later, as they are the ones loosing money, in oil, clean-up, fines, etc......................

I also still do business, with my local BP dealer. I don't buy gas there, but beer, soda, lottery tickets, etc... He is an independent and had nothing to do, with the spill.

I agree !!! People are so quick to want to boycott BP, But fail to remember that the stations are PRIVATELY OWNED and the are only hurting the local economy !!!

[04 Venom]

http://www.factcheck.org/elections-2008/obamas_oil_spill.html
just do a google search of -oil company donations Obama. He is the biggest recipiant of oil money ever. Him talking hard about oil companies is a big joke. Wake up people.

wrong

[djom1cincy]

wrong

This is just a quick search. Maybe not the largest ever but the largest to ever receive donations from bp money wise.

http://hotair.com/archives/2010/05/05/obama-biggest-recipient-of-bp-money-over-past-20-years/

While the BP oil geyser pumps millions of gallons of petroleum into the Gulf of Mexico, President Barack Obama and members of Congress may have to answer for the millions in campaign contributions they’ve taken from the oil and gas giant over the years.
BP and its employees have given more than $3.5 million to federal candidates over the past 20 years, with the largest chunk of their money going to Obama, according to the Center for Responsive Politics. Donations come from a mix of employees and the company’s political action committees — $2.89 million flowed to campaigns from BP-related PACs and about $638,000 came from individuals.
On top of that, the oil giant has spent millions each year on lobbying — including $15.9 million last year alone — as it has tried to influence energy policy.
During his time in the Senate and while running for president, Obama received a total of $77,051 from the oil giant and is the top recipient of BP PAC and individual money over the past 20 years, according to financial disclosure records.


So could it be that Obama waited so long to get involved because of this? Now he's putting on his game face trying to look good for the public talking a big game wanting to "kick someones ass".

[04 Venom]

BP could have easily stood back and said they were only liable for $75 million in damages and $1 billion in clean up costs under federal law and fought it court when the government tried to collect more. The whole time the US tax payers would be footing the bill and it would likely be 20 years or more before any money flowed from the BP coffers. I think they deserve more credit than they are being given since they have chosen to pay up and not hide behind lawyers. Not many companies would have done that.

That applies to damages under FEDERAL law. The government can levy fines for each barrel of oil spilled over and above any damages. Even if it is capped by the end of August, there will be hundreds of millions of gallons spilled. Now multiply that by the maximum fine of $4300 per barrel. Then add the fact that under STATE law individuals can file civil suits (over 100 have been filed already) in every state where an injured party resides. Get the picture?

BP deserves some credit for admitting liability and funding the escrow account immediately, but don't think they did it because it was the right thing to do. They are trying to minimize there eventual payout and lessen the chance that Congress passes further laws targeted at BP (in futuro, not ex post facto, of course), as well as trying to stem the decline in the value of their stock. And don't forget that they are scared shitless that the government files criminal charges against them.

[04 Venom]

This is just a quick search. Maybe not the largest ever but the largest to ever receive donations from bp money wise.

http://hotair.com/archives/2010/05/05/obama-biggest-recipient-of-bp-money-over-past-20-years/

While the BP oil geyser pumps millions of gallons of petroleum into the Gulf of Mexico, President Barack Obama and members of Congress may have to answer for the millions in campaign contributions they’ve taken from the oil and gas giant over the years.
BP and its employees have given more than $3.5 million to federal candidates over the past 20 years, with the largest chunk of their money going to Obama, according to the Center for Responsive Politics. Donations come from a mix of employees and the company’s political action committees — $2.89 million flowed to campaigns from BP-related PACs and about $638,000 came from individuals.
On top of that, the oil giant has spent millions each year on lobbying — including $15.9 million last year alone — as it has tried to influence energy policy.
During his time in the Senate and while running for president, Obama received a total of $77,051 from the oil giant and is the top recipient of BP PAC and individual money over the past 20 years, according to financial disclosure records.


So could it be that Obama waited so long to get involved because of this? Now he's putting on his game face trying to look good for the public talking a big game wanting to "kick someones ass".

Not quite. Obama was the largest single recipient of contributions from BP during the 2008 campaign, but much more of the oil industry money went to McCain/Pail (twice as much) and the Republicans (75% of the oil contributions since 1990).

http://politifact.com/truth-o-meter/article/2010/may/24/bp-liked-obama-oil-stained-sarah-palins-hands-too/

Another example the corrosive effect of money on our political process. I say, pass a constitutional amendment prohibiting any contributions from corporate interests and labor unions and limit contributions from individuals.

[mustang8998]

Another example the corrosive effect of money on our political process. I say, pass a constitutional amendment prohibiting any contributions from corporate interests and labor unions and limit contributions from individuals.

Well now, that sounds like a killer idea!

Who (of our representatives) can we get to vote, for this? :drunk:

[mustang8998]

And, another thing that bothers me. BP, along with all the other oil companies, have to get an okay, from the feds, on anything they do. So, is there any culpability, from the government, for the spill? I doubt it.

I have also heard that the BOP, was manufactured, by Haliburton. I guess it's Bush's fault, by proxy (Chaneys connections).

[cstreu1026]

That applies to damages under FEDERAL law. The government can levy fines for each barrel of oil spilled over and above any damages. Even if it is capped by the end of August, there will be hundreds of millions of gallons spilled. Now multiply that by the maximum fine of $4300 per barrel. Then add the fact that under STATE law individuals can file civil suits (over 100 have been filed already) in every state where an injured party resides. Get the picture?

BP deserves some credit for admitting liability and funding the escrow account immediately, but don't think they did it because it was the right thing to do. They are trying to minimize there eventual payout and lessen the chance that Congress passes further laws targeted at BP (in futuro, not ex post facto, of course), as well as trying to stem the decline in the value of their stock. And don't forget that they are scared shitless that the government files criminal charges against them.

You are missing my point though. All of that would have ended up in court. Even the lawsuits filed by individuals would likely end up in federal court as a class action. Either way it would be tied up in the legal system for decades and the only ones getting paid would be BP's lawyers.

[04 Venom]

And, another thing that bothers me. BP, along with all the other oil companies, have to get an okay, from the feds, on anything they do. So, is there any culpability, from the government, for the spill? I doubt it.

I have also heard that the BOP, was manufactured, by Haliburton. I guess it's Bush's fault, by proxy (Chaneys connections).

If they had followed the industry standards and federal guidelines the BOP would have worked. Blowouts are not rare, but there hasn't been a large release of oil from an off shore rig due to a blowout since 1980. The triple redundant systems have worked in the past. That's why BP executives probably will face criminal charges for gross negligence.

[02mingryGT]

Actually that was gone over a few weeks ago ... And the discovered that McCain/Palin aka the crazy B#$ch from Alaska received almost 10 times the campaign contributions from oil companies as Obama !!! And don't forget the 2 OIL MEN that just left office ... LMAO

Post the link backing your argument. It may be true but it's hardly surprising since she was the governor of Alaska. I would be willing to bet all the state office holders in Alaska received more in campaign funds from big oil than any other state other than perhaps Texas.

[02mingryGT]

If they had followed the industry standards and federal guidelines the BOP would have worked. Blowouts are not rare, but there hasn't been a large release of oil from an off shore rig due to a blowout since 1980. The triple redundant systems have worked in the past. That's why BP executives probably will face criminal charges for gross negligence.

In my opinion the government employees of MMS should also face criminal charges for gross negligence. Blame BP and the government equally.

[mustang8998]

In my opinion the government employees of MMS should also face criminal charges for gross negligence. Blame BP and the government equally.

That's what I say.