Read time: 2 minutes

Lifting BP's Liability Cap - Is This Setting The Stage For Their Bankruptcy? Sure Sounds Like It, And That Ain't Good.

[media id=17188] Today on "This Week" with Jake Tapper, John Boehner and Steny Hoyer both agreed that BP's liability cap should be raised. Be af

9 years ago by David

Today on "This Week" with Jake Tapper, John Boehner and Steny Hoyer both agreed that BP's liability cap should be raised.

Be afraid. Be very afraid.

Here's what I think it means: Two corporatist lackeys want the ceremonial Kabuki dance of raising the liability cap because it will play well with voters -- but will actually make BP happy because it sets the stage for their eventual bankruptcy (or that of whichever subsidiary they'll designate as the liable party), and they'll get to walk away and stick us with the entire bill. BP will be happy, the politicians who take oil company money will be happy, and Wall Street will be happy.

Everyone will be happy -- except the people and creatures whose lives were destroyed by their criminal negligence. Whee!

House Minority Leader John Boehner, R-Ohio, called for completely lifting the liability cap on BP so that the company bears the full cost of the economic damage of the oil spill.

In an EXCLUSIVE “This Week” debate, Boehner and House Majority Leader Steny Hoyer, D-Maryland, discussed the oil spill and did something they rarely do: agree. They both criticized BP's response to the oil spill.

“BP has not been accurate in its representations. It has been misleading…[and] what has happened is outrageous and the American public are, correctly, very, very angry,” Hoyer said.

“Well, Steny, guess what: I agree wholeheartedly with you,” Boehner said. “The American people want this oil leak stopped now. They want to know what happened. They want the Gulf cleaned up. And they want it all done now,” the minority leader said. “I just think that BP ought to be held responsible for all of the costs that are involved in this.”

Boehner explained he wanted to change to current law so that BP would be responsible not just for the cost of cleanup but also for more economic damages than current law allows. “I think lifting the liability cap on BP and for this spill is appropriate.”

Host Jake Tapper asked, “so lift it entirely for BP?”

“Absolutely,” Boehner replied. “They should be held responsible for every dime of this cost.”


We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service (revised 3/17/2016) for information on our posting policy.