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Oilspill off Louisiana could threaten coast


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#16    Travelling Man

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Posted 06 May 2010 - 11:06 AM

The only Deepwater Port in the area is The Loop - of which, the Deepwater Horizon is not a part... even though it has a confusing name.  The water may be deep, but it isn't considered a "deepwater port."

The limits of liability are for Federal CIVIL penalties only... they have nothing to do with third-party claims, like those that all those fishermen will be filing.

$75 million has NOTHING to do with punitive damages.  Depending on how the investigation goes, they may be hit with upwards of BILLIONS of dollars worth of punitive damages... or nothing... depending on the findings.

There is nothing that Obama can do about raising the limits of liability - as they are set by law.  He would have to recommend a new bill, the House and Senate would have to submit, debate and approve it, and Obama would have to sign it - and it would be way too late anyway because the incident has already happened, and BP is going to be dealt with under the laws in existance at this time.

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#17    Solipsi Rai

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Posted 07 May 2010 - 01:21 AM

I expected an oil spill to occur from the oil rig fire about 2 weeks ago, because the fire damage will release crude oil into the sea water and eventually wash ashore by the currents or tides heading north. The ecological and economic impact will be highly catastrophic, and either BP (the company's legal responsbility) or the feds. should clean it up before the oil spill's devastation worsens and deepens.

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#18    4dplane

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Posted 07 May 2010 - 07:04 AM

Malruhn,

what does this mean?

"A federal statute caps damage recoveries from oil spills at $75 million, if no negligence is established. On Capital Hill, lawmakers are working on a measure to lift it to $10 billion." - source

Looks like it might happen - so, what are "damage recoveries"?

Edited by 4dplane, 07 May 2010 - 07:05 AM.

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#19    Travelling Man

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Posted 07 May 2010 - 11:19 AM

View Post4dplane, on 07 May 2010 - 07:04 AM, said:

Malruhn,

what does this mean?

"A federal statute caps damage recoveries from oil spills at $75 million, if no negligence is established. On Capital Hill, lawmakers are working on a measure to lift it to $10 billion." - source

Looks like it might happen - so, what are "damage recoveries"?

That quote isn't in the source you cited.  Reuters may have amended the info, because the info is flat out wrong.

It is probably due to the reporter's error and unfamiliarity with the law... it happens all the time.  According to the Code of Federal Regulations, the limit of liability for offshore platforms is the TOTAL cost of cleanup, PLUS $75 million dollars.  This penalty is assessed through civil processes - basically the company get sued by the federal government to recoup the money spent for the response.  If the issue is taken to the criminal courts, this penalty (total plus $75) is thrown out and the criminal court can assess nearly anything - from ZERO penalty (considering the cleanup will cost BP upwards of $2-3 BILLION), to significantly more than that amount.

Besides, the way US law works, the increase to $10 billion will happen AFTER the incident, so the penalties won't, and CAN'T be assessed for this incident.

Oh, and "damage recoveries" is a crap term created by the reporter for the slap-on-the-wrist EXTRA fines the company gets that are over and above the cost of cleanup.

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#20    4dplane

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Posted 07 May 2010 - 02:30 PM

Wow, I have never seen a piece of info removed like that, crazy!

I do however find other sourcees that say the same thing.

This one has it in the title so maybe it will stay up.
http://thehill.com/b...rom-75-m-to-10b

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#21    4dplane

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Posted 08 May 2010 - 04:15 AM

...

Edited by 4dplane, 08 May 2010 - 04:16 AM.

Any belief is a self protecting device through which the mind disconnects itself from truth. Only a mind that is free from any anticipation, hope, and belief can act justly and in alliance with truth and reality.
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#22    Travelling Man

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Posted 09 May 2010 - 02:48 AM

View Post4dplane, on 07 May 2010 - 02:30 PM, said:

Wow, I have never seen a piece of info removed like that, crazy!

I do however find other sourcees that say the same thing.

This one has it in the title so maybe it will stay up.
http://thehill.com/b...rom-75-m-to-10b
News sources do that with updated info... it happens all the time.

I just want to say that I hate stupid lawmakers...

Quote

(from your cite)
“In a fair and just world, companies like BP should pay for every last cent of the mess they’ve made, not taxpayers, not the tourism industry, not the fishing industry, not small businesses,” a lead co-sponsor, Rep. Rush Holt (D-N.J.), said. “Our bill is clear: The buck stops with oil companies; it shouldn’t spill over to taxpayers.”
This idiot doesn't understand what "actual costs" means - it means that BP will spend their own money to clean up the oil - to include any bills that the Federal, State or Local governments hand them... and this is on top of the third-party claims from individuals that get "damaged" by the oil.  The lawmakers are idiots.

If it costs BP $10 billion to clean up the oil, the extra money ($75 mil right now, $10 bil in the proposal) is merely a fine on top of the costs.  It has NOTHING to do with the tax payers having to pay for the cleanup.

Idiots...

For an analogy - let's say the law has to do with damage to cars.  Say that I do something that damages your car.  I am on the hook to pay for the entire fixing of your vehicle... everything from the body work and paint, to the cost of you having to take a bus for two weeks, and taxi's every so often.  THEN, on top of this, I can possibly be fined up to $75 on top of the costs to fix your car as kind of punishment.

If it takes your insurance company $2000 to fix your car, and I have to repay them.

The problem is that these idiot lawmakers think that the extra $75 is going to help pay for the fixing... and it isn't.

I don't care that the amount is being raised.  What I DO care about is that they actually understand what they are proposing - and that they understand that this won't impact BP's actions in this case at all.

SORRY... I feel better now.

Edited by Malruhn, 09 May 2010 - 02:49 AM.

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#23    4dplane

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Posted 11 May 2010 - 04:38 AM

Malruhn said:

THEN, on top of this, I can possibly be fined up to $75 on top of the costs to fix your car as kind of punishment."

So who get the 75 million / possible 10 billion?

Malruhn said:

The limits of liability are for Federal CIVIL penalties only... they have nothing to do with third-party claims, like those that all those fishermen will be filing.

Is there a max for third-party claims?

Any belief is a self protecting device through which the mind disconnects itself from truth. Only a mind that is free from any anticipation, hope, and belief can act justly and in alliance with truth and reality.
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#24    Travelling Man

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Posted 12 May 2010 - 02:33 AM

View Post4dplane, on 11 May 2010 - 04:38 AM, said:

So who get the 75 million / possible 10 billion?



Is there a max for third-party claims?
Who gets the money?  Uncle Sam.  The Coast Guard processes the penalty, and the fine goes into the general fund when BP pays.

The max for third-party claims is whatever BP can afford before they shut their doors.  It could be billions...

Superior firepower will win over superior numbers - every time!  G.A. Custer
Superior numbers will win over superior firepower - every time!  S. Bull

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#25    Siara

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Posted 16 May 2010 - 08:08 PM

I've started my first online petition (which I'm sure will amount to nothing and make me feel like an idiot, but what the heck).

The petition reads:

Quote

To Whom It May Concern,
I am signing this petition to express my dismay at the way BP's oil leak in the Gulf of Mexico has been handled thus far. It is obviously in our country's best interest to send our own video equipment down to the leak site to impartially access the extent of the damage. There are scientists all over this country (both liberal and conservative) who would be more than willing to analyze this data and offer their opinions. Is there any rational reason that the public has not been given access to impartial data when it is easily obtainable?


If you agree that our government should send it's own equipment down to evaluate the leak rather than simply depending on BP's video, please consider signing the petition. It seems pretty naive that we're depending on BP-- the company financially responsible for the damage-- for all our visual information on the leak.

The petition's at: http://www.thepetiti...k/621029891/taf

If you agree with the petition & have time, please pass it's URL around to your friends


#26    GreenmansGod

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Posted 16 May 2010 - 08:23 PM

Bummer the link didn't work. I agree hole hearted.

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