Conservatives Call BP Fund an Obama 'Shakedown'

[Zummie]

Conservatives Call BP Fund an Obama 'Shakedown'

(June 17) -- Some conservatives who've complained that President Barack Obama isn't doing enough about the oil disaster in the Gulf of Mexico now say he's gone too far. They're criticizing the $20 billion fund Obama just squeezed out of BP.

The top Republican on the House panel that summoned BP CEO Tony Hayward to testify today opened the hearing by apologizing to him. Rep. Joe Barton of Texas said he was "ashamed" of what happened at the White House Wednesday and called it a "tragedy of the first proportion" that a private company would be subjected to a "$20 billion shakedown" that's really a government "slush fund." Barton said it was unprecedented and illegal.

Barton's language echoed remarks Rep. Tom Price of Georgia made late Wednesday. The Republican Study Committee chief blasted the escrow account as an example of Obama's "Chicago-style shakedown politics."

Rep. Michelle Bachmann started to criticize the BP disaster fund even before it was announced. The Minnesota Republican called it a "redistribution-of-wealth fund" during a Heritage Foundation luncheon Tuesday in Washington, hours before Obama's Oval Office speech.

She also told The Washington Post's David Weigel she does believe BP should pay for all the damage it's done, but warned against taking advantage of the embattled oil giant.

"We don't think it's a good idea for the federal government to see private industry as essentially a piggy bank for the federal government," Bachmann explained, likening the BP fund to federal bailouts of banks, insurance company AIG and automakers. She also said payment of claims should be handled by courts, not a czar. (Note: Claims for damages in the Exxon Valdez matter took 20 years, Exxon took the case to the U.S. Supreme Court, and many claimants got pennies on the dollar.)

The governor of one state at the center of the crisis expressed concern about how the huge disaster-aid account would affect BP's bottom line.

"I do worry that this idea of making them make a huge escrow fund is going to make it less likely that they'll pay for everything. They need their capital to drill wells. They need their capital to produce income so they can pay that income to our citizens in Alabama, Mississippi, Florida, Louisiana, and to pay for all the damages done," Mississippi's Republican Gov. Haley Barbour told Fox's Greta Van Susteren

"BP needs to pay, is supposed to pay, must pay every penny. But this escrow bothers me that it's going to make them less able to pay us what they owe us," he said.


Daily Kos blogger Jed Lewinson interpreted Barbour's logic this way: "If we make BP pay, then BP might not be able to afford to pay. So we shouldn't make them pay, so that way they can pay.

"If you're confused by Barbour's comments, maybe this will help clear things up," Lewinson added. "Before running for public office, he was a lobbyist. For big oil."

[Zummie]

Since the majority of those affected by the oil in Alabama, Mississippi, and Louisiana are Republicans I think they should refuse to take any of BP's money to support the Republican leaders.

[hubris 1]

Let me give you another one. Two days ago a report came out that over 50 percent of Philadelphias youth are not eligable for military service. Why? Three main reasons. They are grossely over weight, convicted felons, and high school drop outs.
The democrats answer to this..........We dont have enough money for education.
Now if that answer makes sense to you, You are part of the problem.
I say we just abolish the courts in this country and all insurance companies are required to pay any claim submitted to them with in 3 business days.
Will that make you yummie Mr zummie?

[Zummie]

Let me give you another one. Two days ago a report came out that over 50 percent of Philadelphias youth are not eligable for military service. Why? Three main reasons. They are grossely over weight, convicted felons, and high school drop outs.
The democrats answer to this..........We dont have enough money for education.
Now if that answer makes sense to you, You are part of the problem.
I say we just abolish the courts in this country and all insurance companies are required to pay any claim submitted to them with in 3 business days.
Will that make you yummie Mr zummie?

I hope every fisherman on this board lets their kids read the above post so the kids will understand what meth and booze will do to your mind. Note: how the post has absolutely nothing to do with the posted topic. So sad.

[hubris 1]

Sure it does, Im showing you how there is just an entire difference in a way of thinking. Time after time, its the same retoric from the liberals. Never enough money.



For the record I dont use Meth. I use crack, pot, speed balls, and ******. I wash it all down with a 1.75 bottle of vodka. We cant all be nuclear thinkers. Sorry my inability to stay within the narrow confines of your thought was not acceptable. In the Godfather Vito Corleone said....."There just wasnt enough time" all the liberals thought he said "theres never enough money." Oops, my speed ball is clouding my thinking.......Far out!

[Big Fish Billy]

Hopefully everyone will get on a bandwagon and not buy gasoline from BP...that has driven the price of BP fuel in my town, down 34 cents. They were 20 cents above all the other stations in town just a few short weeks back. Not buying from BP will send the only message they'll understand.....

[marine4003]

Regardless of political affiliation..seems those long-timers need to go, Joe Barton has received 1.4 MILLION from big oil..so where do you think his loyalty's lie..

[hubris 1]

Follow the LAW. This administration doesnt seem to be able to do that. Forget about all the other political shit. Follow the LAW.
The question is, How does american law regulate this operation. I need three "kevins" to drill a water well. Cartainly there is a set of guide lines for drilling an oil well. If there isnt, shame on us.

[Zummie]

Follow the LAW. This administration doesnt seem to be able to do that. Forget about all the other political shit. Follow the LAW.
The question is, How does american law regulate this operation. I need three "kevins" to drill a water well. Cartainly there is a set of guide lines for drilling an oil well. If there isnt, shame on us.

The "LAW" as put in place by Bush and his cronies says that the oil companies liability is capped at $75 million. Even if congress changed the law it can NOT be changed retroactively. How far do you think that 75 million would have taken us. About 3 days worth of damage.

If I was one of the people financially affected by this spill the only proper thing to say to Obama is THANK YOU.

[hubris 1]

If thats the law, Im for it. If its not good enough, change it through the process! If you were one of the ones effected, I change my mind......their is a god. Otherwise, the govt figures out a way to come after YOU.