Our question on whether Congress should raise or even eliminate the cap on liability costs for oil companies drilling off the U.S. coast brought a number of comments. See how E-News readers voted and leave your comments.
In the wake of the BP oil spill, some members of Congress propose raising or even eliminating the cap on liability costs for oil companies drilling off the U.S. coast. Currently companies like BP must pay to clean up, but liability costs are capped at $75 million (if they are not found guilty of gross negligence or willful misconduct.). Do you agree with raising or eliminating the cap?
“The cap came from big money influence, not from a sense of fairness.”
“Liability should be limited to tangible, measurable costs such as lost fishing opportunity for commercial fishing businesses but cap should be increased to more accurately reflect true risk. The beneficiary of oil drilling (oil companies) should bear the burden of true cost of consequences when they occur, not others upon whom consequences are inflicted.”
“Way too slow to react to a solvable engineering problem. No cap to stupidity!”
“The problem is: If you raise the cap, then the cost of the fines is passed to the consumer. Either way, the consumer loses. Mismanagement is NEVER punished, only deflected to the consumer.”