Posted on 07/16/2011 6:10:02 PM PDT by Pan_Yan
CHICAGO — BP wants to stop paying most people affected by the massive 2010 Gulf of Mexico oil spill for potential future damages because the region has recovered, a document released Friday said.
The tourism industry is booming, all federal fishing grounds have reopened, and the shrimp catch has been plentiful, BP said.
"The current economic data do not suggest that individual and business claimants face a material risk of future loss caused by the Deepwater Horizon oil spill," BP said in a 29-page document filed with the Gulf Coast Claim Facility, which is handling compensation claims.
...
The compensation fund has so far paid more than $4.5 billion to more than 195,000 claimants and made around $430 million in additional offers that are under consideration by claimants.
BP said it "remains committed to paying all legitimate claims" but said a "reevaluation" of the formula for calculating damages is required due to "the current state of the Gulf economy."
(Excerpt) Read more at google.com ...
Funny how that worked, huh?
The story doean’t seem to match the assertions in the headline. The formula for the original payoff was set based on a worst case scenario. Now that it hasn’t happened, they’re proposing to modify the formula to match the reality.
Wonder who the Bag Man was? But when the dough changed hands it was instant silence.
Freezer money for Obama.
Where does fair compensation become feed-me-for-life welfare? Who gets to determine that?
Hahahah once you expose the vein to the vampires they will never give it up till they drain it dry!
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