Pay Baby, Pay! Obama says that BP's going to pick up the tab for the oil spill

[Bonestorm]

if they have a complete defense, that section doesn't apply, IMO

...i thought you kept posting that section as proof i was wrong

I was just focusing on a different issue. That's why I didn't address the section you quoted at all. In my view, it seems BP is not likely to have a complete defense and instead will only have its liability limited.

btw, the government has a billion dollar trust fund from oil industry fees....

I understand that but it doesn't follow that BP does not have to pay back the trust fund (if it does not have a complete defense).

 

[Cancel 2018. 3]

OTE=NigelTufnel;645229]I was just focusing on a different issue. That's why I didn't address the section you quoted at all. In my view, it seems BP is not likely to have a complete defense and instead will only have its liability limited.

ok

I understand that but it doesn't follow that BP does not have to pay back the trust fund (if it does not have a complete defense).

doesn't that defeat the purpose of the fund? BP has already paid into it, its like an added insurance policy....actually, i just looked into it and apparently it is used when the person who caused the spill/damage is unknown or refuses/can't pay....

 

[Bonestorm]

doesn't that defeat the purpose of the fund? BP has already paid into it, its like an added insurance policy....actually, i just looked into it and apparently it is used when the person who caused the spill/damage is unknown or refuses/can't pay....

Yeah, it doesn't really defeat the purpose of the fund. My understanding is that the purpose of the fund is to have cash available to immediately address the problem instead of waiting around for the responsible party to cash checks, not to have all oil companies subsidize the clean up costs caused by one oil company.