Menendez Introducing Unlimited Cap On BP Damages

Source: Huffington Post

Sam Stein
HuffPost Reporting

Exclusive: Menendez Introducing Unlimited Cap On BP Damages

First Posted: 05-25-10 12:48 PM | Updated: 05-25-10 12:50 PM


Sen. Robert Menendez (D-N.J.) is set to introduce on Tuesday afternoon a bill that would fully eliminate any cap on the amount of economic damages that oil companies would have to pay for spills they've caused.

The New Jersey Democrat is revising an earlier version of legislation he introduced which would have raised the cap from $75 million dollars in liability to $10 billion. Now, the cap will be, effectively, unlimited, an aide said.

The revised legislation will get its first floor hearing on Tuesday afternoon as Senate Democratic leadership is expected to call for unanimous consent. In all likelihood, a Republican senator will object (they have objected twice already to Menendez's $10 billion cap) forcing Democrats into another course of action.

That said, the New Jersey Democrat is hoping that by making liability unlimited he can effectively remove the GOP talking point that the $10 billion cap was an arbitrary number. He's also hoping to ride the growing wave of anger at BP for its oversight of the spill in the Gulf.


Read more: http://www.huffingtonpost.com/2010/05/25/exclusive-menendez-introd_n_588867.html

But even if it is counted from today the damages, if they are counted fairly, will bust them

He makes me proud to be from NJ, something hard to do with Christie running the state. The work Menendez and his people have done for people with onerous mortgages, work largely unherealded, is inspirational.

Oh, Rush Holt and his people are fine folks as well.

kind of guy.

:patriot:

they cannot be allowed to inflict all this environmental, economical, and psychological harm on Gulf residents (and perhaps the entire ocean) without at least paying a very public price for their criminal behavior. It won't bring the Gulf of Mexico back though and for that I am profoundly sad, no amount of damages can cover destroying a priceless body of water and coastline, so it might as well be a limitless (and mostly symbolic) judgement brought against them.

In the unlikely event that it would pass, (let alone make it to the floor for a vote)it would be overturned as a violation of ex post facto. The legislators responsible for this cap will have to live with the repercussions of their short-sighted legislation and vote for said legislation. My they be voted out of office at the first available chance.

FSH

then why should any one in Congress object to having an unlimited cap on liability? Naive question - huh?

Does anyone really think the "new democrats" are gonna vote for this one? Thanks for the comedy relief!

Once again the corporate media runs interference for big oil.