Obama announces BP escrow account for Gulf Oil Spill damages

BP will set aside billion to pay the victims of the massive oil spill in the Gulf, senior administration officials said Wednesday, a move made under pressure by the White House as the company copes with causing the worst environmental disaster in US history. The independent fund will be led by lawyer Kenneth Feinberg, who oversaw payments to families of victims of the Sept. 11, 2001, terrorist attacks. In his current rule, Feinberg is known as Obama’s “pay czar,” setting salary limits for companies getting the most aid from a 0 billion government bailout fund. Obama was to announce the deal in a Rose Garden statement later Wednesday after wrapping up a meeting with BP executives at the White House. The officials familiar with the details spoke to the AP on condition of anonymity before the announcement. The still-unfolding disaster in the Gulf, as tens of thousands of gallons of oil continue to pour from the broken well daily, is jeopardizing the environment and ecosystems along with the livelihoods of tens of thousands of people across the coastal areas of Louisiana, Mississippi, Alabama and Florida. Those affected ranged from fishermen to restaurant to oil rig workers idled by Obama’s temporary halt to new deep-sea oil drilling. Several big questions remain unanswered, including when BP would start processing claims and paying people out of the fund; who and what would exactly be covered under the plan; how the White House and BP came up with a figure of

8 thoughts on “Obama announces BP escrow account for Gulf Oil Spill damages

  1. Don’t worry people I am hearing ad’s Obama Regime will bailout BP. So BP does not pay the tax payers do!!!

  2. Please state how any laws are being broken here? All I see is a company getting its dues. If an entire nation (England) feels the pinch because of that, it not our problem.  That’s just poor economics on their part. We went through our stint of monopolization from the mid 1800’s to the early 1900’s, and we had to deal and get out of that practice. I guess England has similar, albeit different, but still similar issues to handle.

  3. Obama is fair in getting BP to pay for the cleanup but he is literally attacking BP. He has damaged its reputation by bullying it into submission and modifying international laws to get at them.

    It is hurting all of England because 1/6 of all pension funds in that country are invested in BP. The stock value of this company is dropping rapidly and is costing more money than the 20billion dollar compensation.
    If this company goes down England will go with it.

  4. F YOU!! YOU F*CKIN’ PRICK!! You are Such a F*ing! Socialist Piece of Sh*t!! Ya, they(BP) agreed….You Threatened Them just as you did the banks with the bailout….We won’t forget…Wells Fargo DID NOT WANT THE BAILOUT UNTIL YOU SAID “YOU WILL SIGN ON, FARGO!” YOU’RE SUCH A F*CKIN’ LIAR!! Who did you have in there with you and BP….Al “Shake down” Sharpton?!?, Reverend Jesse “Thug” Jackson! This is total Lawlessness…..Oh, Ya, your from Chicago. (Jimmy Carter #2)

  5. 20 Billion is a joke, Obama either is stupid or took advice from his idiot advisers.
    BP had reported 14 billion in 2009

    This oil disaster will still be causing American people troubles for the next 10 to 20 years. Divide the 20 billion by 10 years than by 5 States.

    They can also pass those costs of 20 billion onto American people by rising the price of gas by $.05

  6. the victims are the animals in the ocean u dumbass obama that are dead now , i dont think they care for money

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