Gulf spill damages could reach $100 billion, Louisiana Treasurer John Kennedy

Yurt said:
my understanding is that there is no limit, no cap, the 20B is not capped
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It's well beyond the legal cap ($75,000,000), and BP could add to it on their own will... But the reality is, from the story that announced the Escrow, they agreed to this because it was an assurance that there is a limitation. It's what I pointed out in the first story when Topper kept announcing how it was all "fixed" because they agreed to set aside this 20B...

My question was, "What if it goes higher?"

And his answer was that Obama would just "make" them add to it without regard to fiscal limitations...
 
Damocles said:
It's well beyond the legal cap ($75,000,000), and BP could add to it on their own will... But the reality is, from the story that announced the Escrow, they agreed to this because it was an assurance that there is a limitation. It's what I pointed out in the first story when Topper kept announcing how it was all "fixed" because they agreed to set aside this 20B...

My question was, "What if it goes higher?"

And his answer was that Obama would just "make" them add to it without regard to fiscal limitations...
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yo I never said fixed, I said it's over in that it was a victory for Obama.
 
Damocles said:
It's well beyond the legal cap ($75,000,000), and BP could add to it on their own will... But the reality is, from the story that announced the Escrow, they agreed to this because it was an assurance that there is a limitation. It's what I pointed out in the first story when Topper kept announcing how it was all "fixed" because they agreed to set aside this 20B...

My question was, "What if it goes higher?"

And his answer was that Obama would just "make" them add to it without regard to fiscal limitations...
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There is no cap. Basically, this is a fund for people with claims that do not want to go through the courts. If the claims exceed $20 billion, then people can go through the courts to go after those additional amounts.
 
Damocles said:
It's well beyond the legal cap ($75,000,000), and BP could add to it on their own will... But the reality is, from the story that announced the Escrow, they agreed to this because it was an assurance that there is a limitation. ...
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I'd love to see that story.

Every story I read had Obama quoting the assurance that the $20B was "not a cap," and stated that BP had been seeking a cap for an upper limit on what they would be obligated for, but the admin (who apparently did nothing on this) said no to that, and gave BP no assurance on it.
 
tinfoil said:
That's two separate business activities that are not related. Just because you found other work doesn't negate the economic damages from the interuption of your business. And the amount of income from other sources does not weigh agaisnt damages owed to you from an unrelated suit.

I don't know why you would conflate the two separate sources of income.
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That is incorrect... if the CAUSE of the economic impact also provides RELIEF from a portion of the economic impact then the total impact is = Cause - Relief
 
NigelTufnel said:
There is no cap. Basically, this is a fund for people with claims that do not want to go through the courts. If the claims exceed $20 billion, then people can go through the courts to go after those additional amounts.
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Like I said, this Escrow isn't even legally required, it's only not "capped" if they choose to add to it.
 
Onceler said:
I'd love to see that story.

Every story I read had Obama quoting the assurance that the $20B was "not a cap," and stated that BP had been seeking a cap for an upper limit on what they would be obligated for, but the admin (who apparently did nothing on this) said no to that, and gave BP no assurance on it.
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This ignores that BP is not even close to legally liable for this (morally liable, yes, but legally economic liability is limited at 75M), that they chose to mitigate ill feeling by agreeing to the Escrow doesn't make them more liable than they could be to begin with. You also cannot retroactively raise the liability limits on them, nor make a law specifically against that company any more than a person. The SCOTUS ruled that rights apply to Companies...
 
Damocles said:
This ignores that BP is not even close to legally liable for this (morally liable, yes, but legally economic liability is limited at 75M), that they chose to mitigate ill feeling by agreeing to the Escrow doesn't make them more liable than they could be to begin with. You also cannot retroactively raise the liability limits on them, nor make a law specifically against that company any more than a person. The SCOTUS ruled that rights apply to Companies...
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Well, if that's your point the post below makes no sense at all:

Damocles said:
Thank gawd they limited the economic liability to 20 Billion or so.. *whew*

Saved!
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NigelTufnel said:
Well, if that's your point the post below makes no sense at all:
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It does if you think maybe "they" are BP.... You have been so absolutely obtuse lately it's incredible. I've not seen this level of deliberate "misunderstanding" in all things related to anything since Dr. Who.
 
Damocles said:
This ignores that BP is not even close to legally liable for this (morally liable, yes, but legally economic liability is limited at 75M), that they chose to mitigate ill feeling by agreeing to the Escrow doesn't make them more liable than they could be to begin with. You also cannot retroactively raise the liability limits on them, nor make a law specifically against that company any more than a person. The SCOTUS ruled that rights apply to Companies...
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LOL

So determined for the admin to have done nothing positive at all on this.

I admire that kind of tenacity, actually. It separates you from the garden-variety, everyday hack...
 
Damocles said:
It does if you think maybe "they" are BP.... You have been so absolutely obtuse lately it's incredible. I've not seen this level of deliberate "misunderstanding" in all things related to anything since Dr. Who.
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No, it still makes no sense. And I'm not misunderstanding anything. You just aren't making any sense at all.
 
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Yurt said:
spit shine!
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Like I said last night, if Republicans like you actually cared as much about actual racism as you do about make believe racism against white people and hypocrisy of Democrats on race the Republicans might win more than a laughable percentage of minority support.
 
Onceler said:
LOL

So determined for the admin to have done nothing positive at all on this.

I admire that kind of tenacity, actually. It separates you from the garden-variety, everyday hack...
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:rolleyes:

Again, pretending that I said it was negative that it existed. Again, I think it is great that they are willing to go above and beyond and set up an Escrow, and that Obama used his position to put the idea into the public arena. It is good, but I simply point out that it doesn't "fix" everything as Topper was saying. I mean 10 threads later glorifying Obama because of 20B he now says that it is true that it doesn't "fix" it all...
 
NigelTufnel said:
Like I said last night, if Republicans like you actually cared as much about actual racism as you do about make believe racism against white people and hypocrisy of Democrats on race the Republicans might win more than a laughable percentage of minority support.
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?

talk about not making sense
 
Superfreak said:
wow... imagine that... our resident leg humper has created his own special chart of straw...

Stalked any women lately leg humper?
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:lolup:
The angry Super Celibate strikes again!

Just PM me if you want to know anything about my consensual heterosexual relations. It'd be kinda creepy and weird; I’ve never actually had some dude who I don’t even know spend years being fascinated with my heterosexual affairs, and the chicks I've fooled around with. But, hit me up if you burning queries!

This oil spill crap seems to have driven you over the edge, man. So, let me know when you can get a hold of yourself and contribute something either substantive or funny. I really don't think a little tongue in cheek picture should piss you off that much, but what do I know? I'm not a rage-a-oholic!

Have fun!
 
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