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BoBo1946's avatar

How will President Obama get around the Law that was made after the Valdez oil spill in 1990?

Asked by BoBo1946 (15285points) June 17th, 2010

The law put a seventy five million dollar limit on damages caused by an oil spill.

Don’t think BP has ever been about doing the right thing. But, then again, they want to continue to drill in the gulf. For that reason, guess they may decide not to pursue the Law.

Here is a link on the Law!

http://www.southernstudies.org/2010/06/caps-on-oil-spill-liability-create-incentives-for-spills.html

Your thoughts!

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10 Answers

ItsAHabit's avatar

When asked about this, the White House has said that the president doesn’t have to follow the law.

BoBo1946's avatar

@ItsAHabit really..but, it is a Law! I’m for helping the people…to heck with the 75 million cap! BP caused the problem and they should pay!

ItsAHabit's avatar

If a president doesn’t have to follow the law, how can we still be a democratic replublic?

Lightlyseared's avatar

Ask Nixon what happens when the president doesn’t follow the law.

Nullo's avatar

From a public relations standpoint, BP would have done well to publically assume all of the costs before Barry even got around to noticing the spill.
But yeah, they’re kinda making up new rules over there as they go along.

tomminix's avatar

The thing is that BP has “decided” to put aside 20 Billion dollars to help cleanup and compensate damages caused by their spill. This is probably because the government has put pressure on them and they still want to be a company. In the first quarter BP’s profits for 2010 were roughly $61 million daily. At that average BP makes that 21.9 Billion a year. If they decided to refuse to pay more then 75 million because of the law the public would have a backlash that would most likely drop profits to the point where they wouldn’t be able to do anywhere near that business again. If they decided they werent going to fix it there wouldnt be anything they could essentially “do” about but that would probably hurt the company too much and Obama knows it.

ItsAHabit's avatar

Nullo. BP said from the very beginning that it would cover all the costs.

Nullo's avatar

@ItsAHabit Then why is Barry harassing them for more money?

ItsAHabit's avatar

I suspect it is for political gain. There’s a lot of grandstanding going on in Washington right now and they’re all trying to outdo each other as being the toughest on BP.

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