Boehner wants BP to pay every DIME!

Discussion in 'Environment' started by JimH52, Jun 13, 2010.

  1. JimH52
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    JimH52 Gold Member

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    House Leaders John Boehner and Steny Hoyer: Oil Keeps Flowing, Money Drying Up - ABC News

    Anymore arguments that tax money be used for this leak? No, I would hope that now that the GOP leader has said BP needs to pay every dime, there are no more petroleum sheep...
     
  2. Care4all
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    Care4all Warrior Princess Supporting Member

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    :clap2:
     
  3. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Oh Puh-leeeze.

    As I and many others have said repeatedly: time is of the essence. The Feds have collected money over the years ($1.5B and counting) to respond to an oil disaster crisis. Any money spent now to prevent further damage can be recovered from BP via fines and the legal process if an investigation yields proof that they are 100% responsible.

    The Feds' lack of a proper response has actually exacerbated the damage, and weakens its case that BP is solely responsible.
     
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  4. Care4all
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    Care4all Warrior Princess Supporting Member

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    link to the $1.5 billion collected for oil disasters, pretty please.
     
  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    Here you go, the Feds want to raise the current 8 cent per barrel tax to 40 cents, claiming that the current oil spill will exhaust the Oil Spill Liability Trust Fund. (They haven't spent the $1.5B btw - they are just claiming it won't cover all of the damage - the same damage they are saying BP should cover.)

    The existing tax rate of 8 cents has already financed a $1.5 billion liability trust fund, which is nowhere near enough to pay for the damages. The cost of the spill, resulting from an offshore oil rig disaster off the coast of Louisiana that killed 11 workers in April, could exceed $14 billion, according to the bill.

    "[The Oil Spill Liability Trust Fund] is essentially exhausted, assuming that all the funds are needed for this spill," said Tezak.

    The trust fund covers damage costs -- calculated separately from clean-up costs which the responsible companies must pay for. The damages in the Gulf of Mexico are both environmental, including the effects on wildlife, and economic, like the losses suffered by the fishing and tourism industries.



    http://money.cnn.com/2010/05/24/news/economy/oil_spill_tax/index.htm

    Uses of the Fund

    With the consolidation of these funds and the collection of a tax on the petroleum industry, the Fund increased to $1 billion. Fund uses were delineated by OPA to include:

    * Removal costs incurred by the Coast Guard and EPA
    * State access for removal activities;
    * Payments to federal, state, and Indian tribe trustees to conduct natural resource damage assessments and restorations;
    * Payment of claims for uncompensated removal costs and damages;
    * Research and development; and
    * Other specific appropriations.

    The Energy Policy Act of 2005 increased the maximum size of the Fund to $2.7 billion.

    Structure of the Fund

    The OSLTF has two major components.

    1. The Emergency Fund is available for Federal On-Scene Coordinators (FOSCs) to respond to discharges and for federal trustees to initiate natural resource damage assessments. The Emergency Fund is a recurring $50 million available to the President annually.

    2. The remaining Principal Fund balance is used to pay claims and to fund appropriations by Congress to Federal agencies to administer the provisions of OPA and support research and development.

    The Emergency Fund

    To ensure rapid, effective response to oil spills, the President has the authority to make available--without Congressional appropriation--up to $50 million each year to fund removal activities and initiate NRDAs. Funds not used in a fiscal year are available until expended. To the extent that $50 million is inadequate, the Maritime Transportation Security Act of 2002 granted authority to advance up to $100 million from the Principal Fund to fund removal activities. (This provision has not been utilized to date.)

    A core mission of the NPFC is to administer the disbursement and ensure proper use of the Emergency Fund, 24 hours a day, every day, so that the FOSC can immediately respond to a discharge or monitor prompt and effective cleanup activities by the responsible party (RP). the Emergency Fund can be used by FOSCs to cover expenses associated with mitigating the threat of an oil spill, as well as the costs of oil spill containment, countermeasures, cleanup, and disposal activities. While the use of the OSLTF is most closely associated with discharges from ships, it has increasingly been used for discharges at industrial or onshore oil storage and production facilities.



    The Oil Spill Liability Trust Fund (OSLTF)


    The President has access to immediate allocation of emergency funds. If these had been spent on booms, dredging, and berms, the actual damage would be less than we are now facing.
     
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    Last edited: Jun 13, 2010
  6. Care4all
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    Care4all Warrior Princess Supporting Member

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    so, we are using the 1.5 billion of this fund ALL on bp's gulf gusher?

    and leaving nothing in the kitty for all of the other yearly oil mishaps?

    and the gvt wants to raise taxes on all other oil companies to pay for refilling this kitty, when it is BP that will deplete it all?

    am i understanding that right?
     
  7. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    dup post
     
    Last edited: Jun 13, 2010
  8. boedicca
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    No. Congress is already working on a bill which raises the cap so that BP will be liable for $10B.

    The Feds are trying to collect enough money for the Feds to cover 100% of the disaster while planning to spend little if none of it.

    The main point is that they have already collected $1.5B with $50-150M available very quickly for crisis mitigation. If the Feds had handled the crisis properly by using these funds for booms, dredging, and and berms, the ecological and economic damage would be less. Instead, they are exploiting the disaster to quintuple taxes which will not be spent on the disaster.
     
  9. Sarah G
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    Sarah G When Nothing Goes Right, Go Left Supporting Member

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    They aren't even depleting it all, they'll rescue some of it if they ever get their shit together.
     
  10. NYcarbineer
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    NYcarbineer Diamond Member

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    You are a broken record. A silly demented broken record.
     

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