BP ultimatum: Let us drill or funds will dry up

[CLANG]

Oil giant BP is telling lawmakers that if it isn't allowed to get new offshore drilling permits in the Gulf, it will not be able to afford to pay for the damage caused by the Deepwater Horizon oil spill, the New York Times reported in its Friday edition.

The Times reports the UK-based oil giant is on the warpath against a drilling reform bill passed by the House earlier this summer that would effectively bar BP from getting new drilling permits in the US.

The CLEAR Act, passed by the House in July, includes an amendment (PDF) that states any oil company that has received more than $10 million in safety fines, or has seen more than 10 workers killed in the past seven years, is barred from being granted new drilling permits. The Times notes that, currently, only BP fits that criteria.

BP officials reportedly insist that their warnings to Congress don't mean that they are backing away from the $20 billion escrow fund the company established to pay damages to victims of the oil spill. But the Times reports that BP is using some of its voluntary payments as "bargaining chips" with lawmakers.

http://www.rawstory.com/rs/2010/0902/bp-ultimatum-drill-funds-dry/

Fucking sleazebags!

[Rhiannon12866]

1. K&R. At this point, absolutely no one can be unaware of the devastation that they caused...

And, after all of this, it baffles me how anyone can still support off shore drilling... :crazy: :grr:

[postulater]

2. Pay up or we'll shut you down.

[metapunditedgy]

3. Throw one BP exec in prison each week (where they should already be)... they'll find the funds. n/t