Where's the limit on claims against BP?

#1
volinbham

volinbham

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#1
Look, I think BP should be responsible for damage and direct results (e.g. lost fishing revenue, etc.). If it destroys the company so be it.

It appears though that the WH is saying BP will be responsible for lost wages to oil workers resulting from the 6 month moratorium on ocean drilling.

Call me nuts but how can you say a company has to pay for the results of a policy decision by the WH? I bet that one doesn't hold up in court.

Salazar Defends Deepwater-Drilling Moratorium - WSJ.com

http://online.wsj.com/article/BT-CO-20100610-709371.html?mod=WSJ_World_MIDDLEHeadlinesEurope

Interior Secretary Ken Salazar said Wednesday that BP should pay the salaries of any oil workers that are laid off as a result of the government's moratorium on offshore drilling, a move that could hugely increase BP's costs.
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#2
#2
volinbham said:
Look, I think BP should be responsible for damage and direct results (e.g. lost fishing revenue, etc.). If it destroys the company so be it.

It appears though that the WH is saying BP will be responsible for lost wages to oil workers resulting from the 6 month moratorium on ocean drilling.

Call me nuts but how can you say a company has to pay for the results of a policy decision by the WH? I bet that one doesn't hold up in court.

Salazar Defends Deepwater-Drilling Moratorium - WSJ.com

5th UPDATE: Defensive BP Under Pressure To Mollify US Outrage - WSJ.com
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He said "should". I think they know an executive order wouldn't work here.
 
#3
#3
They should bear the brunt of the expense, but damn sure not any subjective pieces.
 
#6
#6
BP is a British company, has there been any reaction by the British govt, particularly to Obama and co. using the company as a blank check?
 
#7
#7
volinbham said:
I was asking the board if they think the way Ken does?

I certainly don't. The moratorium is a WH decision. They own the consequences.
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Ok - I'll answer. Sure, screw it. Make them pay.

It's probably not legal, and it will not happen, but I'm certainly not concerned about BP at this point.
 
#8
#8
TruthIsOutThere said:
Ok - I'll answer. Sure, screw it. Make them pay.

It's probably not legal, and it will not happen, but I'm certainly not concerned about BP at this point.
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and by extension, you don't give a damn about the thousands of Americans currently employed by BP.

nice.
 
#9
#9
TruthIsOutThere said:
Ok - I'll answer. Sure, screw it. Make them pay.

It's probably not legal, and it will not happen, but I'm certainly not concerned about BP at this point.
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So if the feds said all car production has to stop because of a recall at Toyota you would support forcing Toyota to pay all the wages of all affected by the government decision to stop auto production?

I get being mad at BP but I don't support making them pay for the consequences of a political decision completely out of their control.
 
#11
#11
Maybe we make them pay for the moritorium in place for as long as it takes us to inspect every well / rig or other project BP has been involved in???

Look, I've got a lot of relatives in the Gulf, this is going to kill these guys.
 
#12
#12
TruthIsOutThere said:
Maybe we make them pay for the moritorium in place for as long as it takes us to inspect every well / rig or other project BP has been involved in???

Look, I've got a lot of relatives in the Gulf, this is going to kill these guys.
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I'll compromise - shut down all of BPs rigs until cleared and BP must pay for results.

Charging them for the government's call to shut down everyone though is more about political cover for the decision than it is about justice.
 
#13
#13
volinbham said:
I'll compromise - shut down all of BPs rigs until cleared and BP must pay for results.

Charging them for the government's call to shut down everyone though is more about political cover for the decision than it is about justice.
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Isn't this pretty much the way politics works? The politicians make decisions and expect somebody else to pick up the tab?
 
#16
#16
some big time lawyer was on CNBC this morning and says there zero legal president to do this and no way bp gets dinged for this.
 
#18
#18
droski said:
some big time lawyer was on CNBC this morning and says there zero legal president to do this and no way bp gets dinged for this.
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but this president is unprecedented - it's his favorite word.

can't wait until he's unpresidented.
 
#21
#21
I'm guessing BP would/will file for bankruptcy protection at some point to escape their creditor's claims, and think that would be handled by British courts in a way advantageous to the company.

If was in line for money, I'd be doing my best to get paid sooner rather than later.
 
#22
#22
jvol1 said:
I'm guessing BP would/will file for bankruptcy protection at some point to escape their creditor's claims, and think that would be handled by British courts in a way advantageous to the company.

If was in line for money, I'd be doing my best to get paid sooner rather than later.
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I would think the creditors are the least of their worries. Our guv'ment is going to heap everything on that that they can dream up. Hell, Obama's loony arse told other oil companies that he fully expects them to chip in.
 
#23
#23
When you hold a judgment against someone you become a creditor of theirs, albeit one that frequently loses out in bankruptcy court. Moreover, if all of the judgments force the company to liquidate its assets, then all of the judgment holders will get paid a few pennies of what their owed.

It doesn't seem like it's in anyone's interest to force BP to go out of business over this, but that appears to be where Obama's heading as a coping strategy.

Obviously, I'm in a small minority, but if I were Obama, I'd implode the sucker. It'd end the spill now and possibly salvage some chance for reelection.
 
#24
#24
volinbham said:
I'll compromise - shut down all of BPs rigs until cleared and BP must pay for results.

Charging them for the government's call to shut down everyone though is more about political cover for the decision than it is about justice.
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Obama wanted to show the public that he was going to punish the "evil" oil industry. Kind of stupid. Just as the recession shows signs of recovery, they put a moratorium on that could very well put 1000's of individuals in the umemployment line and will add to the foreclosure rate...brilliant. I guess you showed them pres...
The ironic thing about all this is that BP is a British company, and they can drill any other place in the world. The Gulf of Mexico has far less remaining potential than many other areas in the world(Africa, South America, etc). Unfortunately, the moratorium will effect the smaller American companies much more. Way to reward them for their safety record:vava:
 
#25
#25
BigPapaVol said:
I would think the creditors are the least of their worries. Our guv'ment is going to heap everything on that that they can dream up. Hell, Obama's loony arse told other oil companies that he fully expects them to chip in.
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i saw something recently that BP hasn't denied a single claim under $5k. Katrina is going to look like a rainstorm compared to the corruption that will be going on because of this spill.
 
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