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Sunday, May 16, 2010

Top GOP Senators Say: In BP We Trust

Late this past week, Republicans in the Senate effectively blocked legislation that would have raised the cap on the amount of money oil companies like BP would have to pay for economic damages caused by oil spills.
It was, if nothing else, risky politics. As it stands now, a company will pay only $75 million in economic-related liabilities. Sen. Robert Menendez (D-N.J.) wants the figured bumped up to $10 billion. Asked why the GOP would block such an effort, Sen. Jeff Sessions (R-Ala.) suggested on Sunday that raising the cap was unnecessary because BP had given him it's word that it would cover the costs of the spill in the Gulf. LinkHere


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