Gulf Oil Spill Update

The gray areas indicate where oil has spread. Image courtesy New York Times.

The gray areas indicate where oil has spread. Image courtesy New York Times.

BP Agrees To Set Up $20 Billion Claims Fund

After 57 days, millions upon millions of gallons of oil spilled, and under intense pressure from President “I will make them pay” Obama, BP has agreed to set up a $20 billion fund to help out those affected by the worst environmental disaster in the history of the United States. The company also pledged to suspend payments to shareholders and vowed to compensate oil workers for lost wages.

A contaminated wave on the Gulf Coast. Image courtesy Surfrider Foundation.

A contaminated wave on the Gulf Coast. Image courtesy Surfrider Foundation.

All the payouts will be supervised by Kenneth Feinberg, the same guy who oversaw September 11th money dispersal. The announcement came after Obama met up with BP executives who later appeared before reporters to “apologize to the American people.” It didn’t go so smooth however, and all the politicians—many of whom’s pockets have been greased (pun intended) by big oil—puffed out their chests as they questioned BP’s Tony Hayward. “With all due respect, Mr. Hayward, I think you’re copping out,” said Representative Phil Gringrey of Georgia. “You’re the captain of the ship,” he added.

Speaking of the “captain of the ship”, who was in charge of the Deepwater Horizon? Without excusing Mr. Hayward, he wasn’t the one running day-today operations out there. In my opinion, the dude who was in charge that fateful day should be in jail right now.

For more go to www.nytimes.com

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