Pipeline Company Offers To Buy Up To 200 Homes In Area Affected By Oil Spill In Michigan River

[Purveyor]

Source: Associated Press

DETROIT — A company whose pipeline ruptured and dumped hundreds of thousands of gallons of oil into a southern Michigan waterway has offered to buy up to 200 homes in the affected area.

Enbridge Inc. chief executive Patrick Daniel said Tuesday the Canadian company will buy homes for sale before last month's spill at their full list prices. It also will buy other homes in the 30-mile-long zone at their appraised values before the spill.

Daniel told reporters the idea came from residents' concerns their homes were losing value. The company says it believes the homes have retained their value and the offer should keep speculators out.

Read more: http://www.sfexaminer.com/nation/pipeline-company-offers-to-buy-up-to-200-homes-in-area-affected-by-oil-spill-in-michigan-river-99885289.html

[BrklynLiberal]

1. Would that be called "hush" money??????????????

[dipsydoodle]

4. Doubt it

Its similar in some respects to houses in the UK which are blighted. for example,, by motorways routed / re-routed in close proximity to them. Our Department of Transport buys all of the houses and then resells them at a lower price with blight orders attached to them. I'm guessing the company concerned here will do exactly the same - prevents future owners from filing similar claims on the basis they will have bought them fully aware of such issues.

The thought ctossed my mind yesterday, when the subject arose here on DU regarding reduction in value of beach front properties, if BP might do the same down in the Gulf.

[texanwitch]

2. That must have been a hell of a oil spill.

This can happen anywhere.

[Ruby the Liberal]

3. Yikes! That isn't a response to a short-term problem.

I wonder how long they think this is going to take?