Thread: Obama's bumbling of the oil spill

Originally Posted by Dick Martin

Isn't BP playing hardball here and demanding waivers for liabilities in exchange for $5000? You know there are some who will have no choice but to take the offer.

I have two feelings of repugnance on this: First, it is looking to me like BP is treating this disaster as a profit center and a windfall that will allow them to raise prices significantly - far above their costs. Secondly, their total lack of concern for the people whom they have affected is a real eye opener. It really makes their current ad campaign into a cartoon.

I'm not sure about the waivers. I do know that BP says it will pay a month's wages using the income of Jan-March of the past three years to determine the amount. First of all, the guys are losing more than a month's wages and second, Jan-March is the slowest times of the year for them so the wages won't in no way be close to what they would be making right now if not for the spill.
I've always refused to buy my gasoline at a BP station strictly because of the name but now I have another reason to avoid the bloodsuckers.

Originally Posted by Mrs. M

I'm not sure about the waivers. I do know that BP says it will pay a month's wages using the income of Jan-March of the past three years to determine the amount. First of all, the guys are losing more than a month's wages and second, Jan-March is the slowest times of the year for them so the wages won't in no way be close to what they would be making right now if not for the spill.
I've always refused to buy my gasoline at a BP station strictly because of the name but now I have another reason to avoid the bloodsuckers.

One nice thing about this disaster is that its happening in Louisiana, and Louisiana has experience in being screwed over, so it shouldn't hurt as much for them as if it were, say, in Florida,

Originally Posted by goober

BP's liability is capped at 75 million, after that, tough titty.......

1. Please explain above !

2. Republicans have been screaming for years for more off shore drilling WELL

3. You win some and you lose some !

Originally Posted by skeptic1

1. Please explain above !

2. Republicans have been screaming for years for more off shore drilling WELL

3. You win some and you lose some !

Republicans? I thought Obama was the one recently talking about opening up off shore drilling.

Originally Posted by skeptic1

1. Please explain above !

2. Republicans have been screaming for years for more off shore drilling WELL

3. You win some and you lose some !

Liability for oil spills is capped at 75 million (tort reform?) unless negligence is proven.

Law requires companies to pay the entire price tag for cleaning up after spills from offshore drilling, existing laws cap liability for economic damages at $75 million.

Originally Posted by goober

Liability for oil spills is capped at 75 million (tort reform?) unless negligence is proven.

That may change:

Sen. Robert Menendez, D-N.J., who joined three other senators this week in proposing a retroactive increase in the cap on BP's liability, from $75 million to $10 billion, said "even those who may have been advocates for drilling have to look at the reality that there is no such thing as too safe to fail, so I hope that this is a moment, including for legislators in the Gulf region."

http://www.nola.com/news/t-p/frontpa...870.xml&coll=1

Originally Posted by CYDdharta

Republicans? I thought Obama was the one recently talking about opening up off shore drilling.

He did but theen revoked it after this happened. That is testament to him being all hat and no cattle.

Originally Posted by goober

Liability for oil spills is capped at 75 million (tort reform?) unless negligence is proven.

*blinks*

Goober me hearty,

thank ye fer postin' that...it seems indeed that them who have had thar livelyhoods scuttled by this accident shall be in deep waters indeed.

civil liabilities estimated in the low billions

Financial Damage Beginning to Seep from Gulf Disaster The Washington Independent

i figure the good citizens 'o Louisiana and thar elected officials have profited from the oil that has been pulled from the 700+ wells in the gulf and knew that thar would be ecological risks involved with such a mighty venture. one can only hope that several billion dollars were salted away fer just such a day by them that govern this gulf state.

to keelhaul BP beyond thar 75 million would indeed violate the tenets 'o tort reform that i see championed so often on our decks. likewise, folks like Jviehe will undoubtedly protest mightily at our tax dollars bein' used to support the many who face financial ruin due to this sad incident.

bonne chance, Louisiana, aye.

- MeadHallPirate

Originally Posted by MeadHallPirate

*blinks*

Goober me hearty,

thank ye fer postin' that...it seems indeed that them who have had thar livelyhoods scuttled by this accident shall be in deep waters indeed.


Financial Damage Beginning to Seep from Gulf Disaster The Washington Independent

i figure the good citizens 'o Louisiana and thar elected officials have profited from the oil that has been pulled from the 700+ wells in the gulf and knew that thar would be ecological risks involved with such a mighty venture. one can only hope that several billion dollars were salted away fer just such a day by them that govern this gulf state.

to keelhaul BP beyond thar 75 million would indeed violate the tenets 'o tort reform that i see championed so often on our decks. likewise, folks like Jviehe will undoubtedly protest mightily at our tax dollars bein' used to support the many who face financial ruin due to this sad incident.

bonne chance, Louisiana, aye.

- MeadHallPirate

I've got news for you, Louisiana barely gets a drop in the bucket when it comes to royalties.

Louisiana and other energy-producing states have tried for more than 50 years to get an equitable share of revenues produced from oil and gas production in the Gulf of Mexico. Even though the Gulf of Mexico produces 30 percent of U.S. domestic oil generating up to $7 billion in oil and gas revenues every year, the state received less than 1 percent of that money, or about $32 million in 2005.

Louisiana oil royalty relief gains House nod | New Orleans CityBusiness | Find Articles at BNET

Originally Posted by Mrs. M

I've got news for you, Louisiana barely gets a drop in the bucket when it comes to royalties.


Louisiana oil royalty relief gains House nod | New Orleans CityBusiness | Find Articles at BNET

what does LA do for that 32 million?

Originally Posted by CSA

what does LA do for that 32 million?

I reckon they do the same thing that other states who receive royalties do.

Originally Posted by Mrs. M

I've got news for you, Louisiana barely gets a drop in the bucket when it comes to royalties.

hail Mrs. M!

lass, unless imma mistaken, a good part 'o the blame fer this falls at the feet 'o the citizens and state officials 'o Louisiana.

ur own State Lands Office charges a pittance fer right 'o way to the oil and gas companies outta fear 'o losin' the business 'o them big oil companies. it all stems from the greed and avarice to attract business...and well, yer folk have attracted the business, but now 'tis time to bear the costs 'o havin' this kinda risky business in yer ports.

from more cheerful times in 2009...

Witness the Mineral and Energy Board of Louisiana this week announcing it will consider special incentives for conventional oil and gas drilling in the south of the state.
This has the potential to re-vitalize Louisiana's conventional oil and gas. Lower royalties mean improved well economics. And improved economics attract drilling.

Flexible Royalties are the key to Oil and Gas Exploration | Oil Price.com

thems the breaks, mate.

on the brighter side, thar be hope in change, and perhaps if the house democrats can muster enough wind in thar sails, reform shall come and Louisiana shall reap a better share 'o the profits from royalty payments. they tried in 2006, and perhaps a new effort shall get underway in the light 'o this current tragedy.

House Democratic leaders vowed Friday to pursue a broad overhaul of tax breaks and other subsidies to oil companies in January, saying that their first target would be an investigation of how the government collects billions of dollars in royalties on oil and gas produced on federal property.

“The Interior Department has a background of mismanagement, to put it mildly, in the collection of these royalties,” said Representative Nick J. Rahall II of West Virginia, a Democrat who will become chairman of the House Resources Committee next year.

Mr. Rahall said he planned a sweeping investigation of the Interior Department’s enforcement of royalty payments as well as the possible repeal of a 10-year-old law that allows energy companies drilling in deep coastal waters to avoid billions of dollars in payments.

“The oil and gas royalties system has never worked,” asserts a written summary of the committee’s top goals in the new Congress. “Instead it has proven to be a form of corporate welfare that has enabled oil and gas producers to undercut payments due the American people.”

In an opening slap at the industry, House Democrats tried, but narrowly failed, to pass a measure on Friday that would have pressured oil companies to give up a legal loophole that is expected to allow them to avoid as much as $10 billion in royalties over the next five years.

http://www.nytimes.com/2006/12/09/bu...09royalty.html

the article goes on to justly blame the Clinton administration fer negotiatin' these royalty free leases.

- MeadHallPirate