GOP AGAIN BLOCKS HIGHER CAP ON OIL COMPANY LIABILITY…. The political circumstances would seem to benefit the “Big Oil Bailout Prevention Liability Act.” Under existing law, there’s a $75 million liability cap for oil spills. Sens. Robert Menendez (D-N.J.), Frank Lautenberg (D-N.J.), and Bill Nelson (D-Fla.) want to increase it to $10 billion.
The impetus for approving the measure should be obvious — the BP oil spill disaster in the Gulf keeps getting worse, and may soon no longer be limited to the Gulf. It’s hardly a good time for a politician to take a shameless stand to limit industry liability costs.
Sen. James Inhofe (R-Okla.) stopped Democrats’ efforts on Tuesday of passing a measure to increase oil companies’ liability for accidents resulting from offshore drilling.
Inhofe objected to a unanimous consent request by Sen. Robert Menendez (D-N.J.), who took a second stab Tuesday at passing the bill in an expedited way.
Menendez and his partners on this intend to keep trying — and the DSCC intends to use Republican opposition as a campaign issue.