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Post by kessinger on May 4, 2010 13:43:24 GMT -5
Ok, we have all seen the oil spill. So to the pro-corporation crowd here, whos side do you fall on? 1000's of small business' like fisherman, the folks that rent the jet ski's on the beach, the hotels on the beach in the gulf, will lose most of this summers business. By no fault of their own they will lose everything, since most small business can't survive that long stretch with no income.
So, do you think BP owes them for this? If you do, then you will agree with me that these folks are screwed. In a 1986 law BP will only have to pay 75 million in liability and that won't even scratch the surface of covering these small business owners. The law was the Oil Spill Liability Trust Fund. Whoever was president in 86' really screwed these people. Who was that anyway? hmmm. That person must have realy valued big business over small.
Well the little guy gets screwed again, ty Republican party. Glad to see you are looking out for somebody I guess.
Also note this trust fund was setup by Reagan where we the taxpayer will fund the cleanup of a oil companies mistakes. Huh? And you guys were mad at Obama for this exact thing yet your American Idol did this. As Palin always says "we need a President like Reagan" looks like we got one.
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Post by ScottR@KTP on May 4, 2010 15:55:41 GMT -5
Who pays when hurricanes ruin their annual income? Mother Nature? I hope they have oil spill coverage on the insurance...oops!  |
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Post by marcus on May 4, 2010 18:31:21 GMT -5
WASHINGTON — The federal government has a large rainy day fund on hand to help mitigate the expanding damage on the Gulf Coast, generated by a tax on oil for use in cases like the Deepwater Horizon spill.
.Up to $1 billion of the $1.6 billion reserve could be used to compensate for losses from the accident, as much as half of it for what is sometimes a major category of costs: damage to natural resources like fisheries and other wildlife habitats.
Under the law that established the reserve, called the Oil Spill Liability Trust Fund, the operators of the offshore rig face no more than $75 million in liability for the damages that might be claimed by individuals, companies or the government.
The fund was set up by Congress in 1986 but not financed until after the Exxon Valdez ran aground in Alaska in 1989. In exchange for the limits on liability, the Oil Pollution Act of 1990 imposed a tax on oil companies, currently 8 cents for every barrel they produce in this country or import.
The tax adds roughly one tenth of a percent to the price of oil. Another source of revenue is fines and civil penalties from companies that spill oil.
The result is a rainy-day fund, which over the years has been used mostly for spills that exceed the liability caps by relatively small amounts. But the trust fund managers have warned that a single big spill could make a sizable dent in the reserve.
The money is also used to prepare for spills, including anticipatory measures like stockpiling oil containment booms. And Congress can use money from the fund to reimburse the Coast Guard and the National Oceanic and Atmospheric Administration for their spill-related expenses.
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Post by marcus on May 4, 2010 18:37:59 GMT -5
The fund was set up by CONGRESS in 1986 but not financed until after the Exxon Valdez ran aground in Alaska in 1989.
Who was incharge of CONGRESS in 86?
1986 Senate elections — Democrats regained control
1986 House of Representatives elections — Democrats gained seats and kept control
"The money is also used to prepare for spills, including anticipatory measures like stockpiling oil containment booms"
Important to note the gov only has one of these booms,which experts say if they had more it would have been enough to contain the oil.So it to gov 8 days to contact the company that makes them and all they had was one.Now we are going over seas to find some,8 DAYS LATE!!!
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Post by kessinger on May 5, 2010 7:01:24 GMT -5
Ok marcus nice try to slant it. Did the Dem's have a veto proof majoirty? NO. So could Reagan have veto'd? YES. Is this exactly the same type of setup Obama wanted to do to keep the banks from falling and destroying our economy again? YES. What did you call him for that? COMMUNIST?
So when all this boils down BP will only have to pay 75 mil and the taxpayer pays the rest. You seem to have supported my argument yet not answered the question. Does BP owe these people in your opinion?
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Post by jobs1stb4polarbear on May 5, 2010 11:42:17 GMT -5
Because I'm at work and typing with my cell so ill be quick. ...... you are such a retard!
In 1989 dollars Exxon lost about 3.5billion(clean up) over 5 billion in legal fees....and billions more in shares.....
So far BP, which is British Petroleum has lost 12 billion in share since the accident and it's not ever yet...
.the rainy day fund is for Obama to use to help..IF ONLY OBAMA HAD ACTED SOONER MAYBE THOSE POOR SMALL BUSINESSES Would not be hurt!
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Post by Deleted on May 5, 2010 12:10:50 GMT -5
you are such a retard! ..IF ONLY OBAMA HAD ACTED SOONER MAYBE THOSE POOR SMALL BUSINESSES Would not be hurt! Amen to that brother! The Liberals are grasping at straws trying to defend the fungus that is in control right now. |
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Post by jobs1stb4polarbear on May 5, 2010 12:59:22 GMT -5
Here's some more info...... for those Democrats who goes and swims in the gulf of Mexico and gets oil up their ass.
BP has said that it is spending $6 million to $7 million per day to shut off the flow and limit damage. It has offered repeated assurances that it takes responsibility for the spill. The company set up the toll-free phone number 1-800- 440-0858 to take damage claims.
....remember to get a lawyer who cares about you...not one who just cares about the 40-45% he gets when YOU win..
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