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Obama administration warns BP it's on the hook for all damages, not the taxpayers

The Obama administration warned BP in a strongly worded letter Saturday that the federal government expects the oil giant -- and not taxpayers -- to pay all damages associated with the ongoing Gulf of Mexico oil leak, even if they exceed the $75-million liability cap under federal law.

 

BP: Setback in placing dome over gushing oil well

BP: Setback in placing dome over gushing oil well

The effort to place a massive containment dome over a gushing underwater wellhead in the Gulf of Mexico was dealt a setback when a large volume of hydrates -- icelike crystals that form when gas combines with water -- accumulated inside the vessel, a BP official said Saturday.

 

BP Says One Oil Leak of Three Is Shut Off

A fix by engineers was not expected to immediately reduce the release of oil into the Gulf of Mexico.

 

BP Safety Violations: Has Paid A Only A Pittance In Fines

BP Safety Violations: Has Paid A Only A Pittance In Fines

MMS' fines against BP have been the equivalent of a rounding error. From 1998 through 2007 "when MMS issued its last fine against the company" BP has paid less than $580,000 in penalties for its 12 safety violations. Environmental groups say this simply isn't enough.

 

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