Republican senator blocks higher liability cap on oil spills
Democrats' move to increase the maximum fine for oil spills to $10 billion is foiled by Sen. James M. Inhofe.
Los Angeles Times
May 19, 2010
President Obama denounced Republicans on Tuesday for "playing special-interest politics" after a GOP senator thwarted a Democratic effort to raise the liability cap for oil spills to $10 billion.
Sen. Robert Menendez (D-N.J.) was seeking the unanimous consent of the Senate to move forward on the Big Oil Bailout Prevention Act, which would retroactively boost the legal cap of $75 million on how much companies must pay for economic damages.
But Sen. James M. Inhofe (R-Okla.) blocked the effort, saying it would make drilling too expensive for smaller companies. "Big Oil would love to have these caps there so they can shut out all the independents," he said, echoing the argument of Sen. Lisa Murkowski (R-Alaska), who halted an identical move last week.
The legislative maneuvering came as federal officials expanded the no-fishing zone to nearly a fifth of the Gulf of Mexico. The closure now totals 45,728 square miles, extending southeast from the blowout site.
(More here.)
Los Angeles Times
May 19, 2010
President Obama denounced Republicans on Tuesday for "playing special-interest politics" after a GOP senator thwarted a Democratic effort to raise the liability cap for oil spills to $10 billion.
Sen. Robert Menendez (D-N.J.) was seeking the unanimous consent of the Senate to move forward on the Big Oil Bailout Prevention Act, which would retroactively boost the legal cap of $75 million on how much companies must pay for economic damages.
But Sen. James M. Inhofe (R-Okla.) blocked the effort, saying it would make drilling too expensive for smaller companies. "Big Oil would love to have these caps there so they can shut out all the independents," he said, echoing the argument of Sen. Lisa Murkowski (R-Alaska), who halted an identical move last week.
The legislative maneuvering came as federal officials expanded the no-fishing zone to nearly a fifth of the Gulf of Mexico. The closure now totals 45,728 square miles, extending southeast from the blowout site.
(More here.)
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