Oil Spill Could Cost USA More Than $14 billion

Oil Spill Could Cost USA More Than $14 billion

rinf.com

President Obama vowed the government would “spare no resource” in a “coordinated, relentless effort” to clean up and stop the massive oil spill.

“I’m not going to rest… or be satisfied until the leak is stopped at the source (and) the oil on the Gulf is contained,” Obama said.

(visit the link for the full news article)


Related News Links:
www.reuters.com

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Even though our government is telling us that BP is going to foot the bill, I have a hard time believing that the American tax-payer is going to be off the hook for this one. We all know how this usually turns out and it certainly is not to our financial benefit. After all, is BP not too big to fail either? I'm sure that BP will pay a hefty price for this disaster but I can almost guarantee that the American people will also pay a hefty financial cost, in addition to the other costs and losses that we will endure because of this tragic incident. Rest assured that if corporate interests are threatened, even due to their own negligence or fault, the American tax-payers are going to be forced to eat the costs.

rinf.com
(visit the link for the full news article)

reply to post by airspoon

Rest assured that if corporate interests are threatened, even due to their own negligence or fault, the American tax-payers are going to be forced to eat the costs.

Yup, and those costs start right at the pump. Can you say $5.00 a gallon?

The title is totally wrong.

It SHOULD read, "Oil Spill Could Cost British Petroleum More Than $14 Billion..."


But I know, that'll never happen.

British Petroleum oil rig on one of the US's biggest oil/gas field.

Haliburton sabotages well shut-off values while concreting area.

Haliburton sets off the disaster.

British Petroleum loses Billions from clean-up/compensation.

British Petroleum sells off rights to oil field (probably coz this will send them broke.

Haliburton takes over oil/gas lease at bargain basement price.

Haliburton takes more control and makes billions off the enterprise.

Haliburton pays XE(Blackwater) it's well deserved bonus.

Haliburton gets preference when negotiations open up for Obama's newly released oil exploration areas in North/Alaska.

reply to post by CitizenNum287119327


I guess I could buy that scenario or at least it is some-what plausible however, I think the official explanation thus far is pretty plausible as well, especially seeing how much oil is estimated to be leaking per day. While I wouldn't be surprised if this is intentional, until I see a shred of evidence otherwise, I'm going to accept the official explanation. Just my 2 cents.
--airspoon

Tnis reeks of scandal. first, why is obama reacting to this spill now, almsot a week later? he waited till the currents made the oil cover a larger area? that is careless and mindless thinking.
i read bp ammoco stated they said they were going too deal with this on thier own terms. waiting so long after an accident like this, when it should have been as soon as it hit the news is careless.

Sure, we can share the costs, but not the profits.

Despicable. Who ever told them this planet's blood is theirs to begin with?

reply to post by airspoon


BP is British .. I believe if they wish to continue their good relationship with the US, they will foot the bill. It might be different if it were US Based Exxon but it's BP. But, most likely.. BP says they will foot the bill, they might pay a few billion, but honestly I think the cost from the Navy, Army, and Coast Guard will never even be released.

reply to post by Rockpuck


I know that it is supposed to be that way but unfortunately, Americans will still probably pay because there is absolutely no way that the British would allow their government to stick them with the bill and they know that. That leaves us, Americans.

--airspoon

Originally posted by airspoon


Even though our government is telling us that BP is going to foot the bill, I have a hard time believing that the American tax-payer is going to be off the hook for this one. We all know how this usually turns out and it certainly is not to our financial benefit. After all, is BP not too big to fail either? I'm sure that BP will pay a hefty price for this disaster but I can almost guarantee that the American people will also pay a hefty financial cost, in addition to the other costs and losses that we will endure because of this tragic incident. Rest assured that if corporate interests are threatened, even due to their own negligence or fault, the American tax-payers are going to be forced to eat the costs.

rinf.com
(visit the link for the full news article)

I don`t care if BP owned it and somebody else was using it. They would both pay every cent of this bill, and not just a part of it. I get sick and tired of the tax payers getting stuck with picking up the tab on things like this. Isn`t that why companies have insurance, for things of this nature?

reply to post by FiatLux


People always say that they are sick of being made liable for the failures of corporations but not sharing in the profits, myself included, yet we never hold our government accountable. Until we hold them accountable, they are just going to continue to force the liability on us. That's just how it works. Until someone tells them to stop, they are going to do it but by nobody holding them accountable, that basically begs for them to continue to do it.
--airspoon

You know, with this one I don't really care who foots the bill. We are talking about a major commercial fishery here. We are talking about American livelihoods here.

Personally, I think we have already lost enough of those already.

Not to mention the possible environmental effects.

This of course is just IMO.

[edit on 4-5-2010 by DaMod]

The current federal law caps damages that oil company's have to pay at $75 million. I am sure that this will cost billions to clean up and guess who will be stuck with the remainder of the bill....
Source

reply to post by airspoon


Your right about the government. And if enough of these companies are forced to spend their profits to clean up these cases, you would see things change very fast. I have a feeling, that there may be some very big legal action taken about this, and I hope that the coast states get in on it.