Senator says law increasing BP’s liability for Gulf Coast oil spill can apply retroactively
By Matthew Daly, APTuesday, May 4, 2010
Senator: Liability bill covers Gulf Coast spill
WASHINGTON — A Democratic senator says legislation to raise the liability limit for the Gulf Coast oil spill can apply retroactively.
Sen. Robert Menendez of New Jersey is co-sponsoring a measure to raise to $10 billion the liability BP PLC has to pay for damages such as lost wages and economic suffering in the Gulf Coast spill. The current liability limit is $75 million, an amount Menendez called a “drop in the bucket.”
Menendez said Tuesday he was confident that the measure could apply retroactively. He cited the Superfund law that forced companies to pay for previously polluted hazardous waste sites.
President Barack Obama has said repeatedly that taxpayers will not be on the hook for the massive oil spill, which threatens the Gulf Coast.
Tags: Accidents, Barack Obama, Coastlines And Beaches, Environmental Concerns, Government Regulations, Industry Regulation, North America, United States, Washington
