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Monday, May 3, 2010

Bust a Cap in Their Ass

I post this because I don't know what's going to happen. The Deep Horizon spill is of course devastating. The damage on Nature, wildlife, Marine life, And to the thousands of people who earn a living on the coast is a SIN. That being said, from the start of this tragedy it was said BP will have to Pay for this. The President has said the same. It at first led me to believe it true. Now I'm not so sure.
There's a little thing called the Oil spill Liability Trust Fund. This fund was set up in Congress in 1986. It wasn't funded until the Exxon Valdez ran aground in Alaska in 1989. In Exchange for the limits on liability, the Oil Pollution Act of 1990 imposed a tax on oil companies, The cost of this currently is around eight cents per barrel, whether produced here or imported. Another source of income is fines and civil penalties from companies that spill Oil. Another way to look at this is a rainy day fund.
This money is to be used for spill preparation and actual spills. Containment booms are one of the things stockpiled. The whole idea for this is so in an emergency the Money would be right there with no waiting.
The problem here is operators of these off shore rigs have a CAP on liability. That would be 75 million dollars. Although they are responsible for the cost of containing and cleaning up of the spill. The Government I'm sure will go after BP as they are insured and rather well off.
Hmmm good luck with that. Already there approaching affected business's and individuals along the coast offering a mere $5,000 each to shut up and go away. What happens if the cost exceeds the $75 million dollars on hand. It can be raised to a billion with approval. So What!!! Time is what happens, until more is approved. The President on his own can come up with another 50 million.Again I say So what!!!!
The cost of this will be a hundred fold. Billions and Billions of dollars over the next 50 years.
And BP, once some truth comes out about their process and the involvement of Halliburton the litigation process will begin. In four months the great BP will file for Bankruptcy to limit liability, I'm sure.
When I hear Drill baby Drill or drill here and drill now I'm sick. So these loudmouth bastards who urged us all on to say Fuck you to the Environment. For What! Points, Points against the President, against the Democrats. Enough! Fucking Newt and Palin should get their ass down there and get dirty. They as much as BP and Hallibuton have responsibility for this. I Amend that, all of Fox, Rush and any other asshole that proclaimed this safe.
This just in,The former head of FEMA has just announced Obama wanted this to happen so as to put an end to off shore drilling. Another good one Brownie...
People wonder why I drink.......

22 comments:

Mrsh2o said...

1986, 1986 you say... Let me reach back, I was birthin babies back then so I was kinnda busy. WHO THE FUCK WAS PRES. Way back then?

Tim said...

Bed time for Bonzo..

S.W. Anderson said...

I think if BP and the drilling rig company were to go bust paying for the damages and other costs from this mess, other companies might be inclined to be a lot more careful where, when and how they drill. I also think other oil outfits would be inclined to spend big bucks to come up with a better system for preventing explosions and wellhead blowouts.

Greendayman said...

Nah - I KNOW why you drink....

-g

Ranch Chimp said...

I apreciate this posting Mr.Tim, because the other day when I was listening to this White House Press Sec. guy who was being drilled by reporter's on how much will BP have to pay or is responsible, he was telling them 100% basically. But in the back of my mind I was saying, I dont believe a damn word of this, or even the dem's or rep's, simply because it is a critical election mid term coming up, and I just feel, like every other issue we get stiffed on, BP will somehow get away with this, I am correct 99% of the time on this scam crap, and I dont buy that we wont have to foot money out somehow for this. I wasnt aware of this "fund" that you posted here, which thrilled me to hear, because it gave a picture of the way this scam will probably go down, but were all going to be force fed how BP is going to pay this or pay that .... sure ... with most of our money! .... heh, heh, heh, heh, heh .... we are so f'n blind in some way's ... never could survive on the street!

Thanx Guy .........

Tim said...

Greendayman
Thanks for stopping by,first round is on me..

Joaquin said...

Come on guys! Sure this spill is troublesome, but accident happen.
And don't worry about the cost of the clean-up. Companies like BP and energy engineering companies like Haliburton and Schlumberge have insurance that covers accidents.

Tim said...

RC
How you feeling Partner?
Yeah this hole BP thing is making me nuts. For once I would like the Government to tell us the truth.

Tom Harper said...

I can't believe Brownie actually slithered out from under his rock just so he could make that asinine statement.

People like him are probably driving up booze sales everywhere.

TomCat said...

Senate Democrats are working on a bill to retrroactively raise that cap to $10 billion. Because BP was just caught falsifying engineering documents to cover-up the corners they have cut on another Gulf oil rig, there is a good case for retroactivity.

jmsjoin said...

After Vadez a law was passed saying they would pay 100% but you can bet they will not. They don't care about us and our environment. This is their corporatocracy and they are in charge. The Senate are their pimps!

Tim said...

Jim
They are responsible for containment and cleanup 100% but as far as I can gather until something else is passed Liability for lost jobs ,industry and even tourism is capped. If you run across something else please let me know.

Tim said...

Joaquin
"Sure this spill is troublesome, but accident happen".
The way this is playing out it's a lot more than a troublesome spill.
A troublesome spill is when I spill my beer.

Tim said...

Hey Tom
Brownie was on Mathews and of course he was a blithering idiot. He did so much Dancing I though Gene Kelly came back from the grave. He's a fine Representative of the Bush Quagmire.

Tim said...

Tom Cat
I'm reading your piece on that right now. Good stuff!
So what's it going to take to get this passed. Can this to be blocked?

Ranch Chimp said...

Thanx Guy .... I am feeling a Hell of alot better today, thanx to the antibiotic's I reckon that ole Doc gave me .... she (my doctor) told me that they are some of the best on the market called "Levaquin". I read up online on them, and many comment's as well about folk's that had all kind's of negative side effect's .... I atually had no side effect's or even any soreness that is supposed to come with taking it. What I had was leading into a bronchil infection of sort she told me, I dont know how the Hell I got it, I rarely ever feel or get ill, but I was out on the patio trimming some rose bushes a few day's prior, and it started raining, and got a lil breezy, and didnt have any shirt on, and instead of going inside and grabbing a shirt I decided to just finish what I started, but then again I also may shake alot of hand's here and there out on the street, anybody from homeless folk's to small business owner's to anyone for that matter, during small chat, who the fuck know's.

Jolly Roger said...

I think it all depends now on how far the spill goes. If it makes it to the Gulf Stream and gets carried up to Canada and Europe, BP is done. Here in the Jesus Corproatocracy of America, a corporation the size of BP can do pretty much what it wants to do, of course.

Tim said...

JR
Those poor bastards on the gulf coast can't seem to catch a break. I've also heard that the type of crude that's emitting from the earth is of a peculiar nature. I saw pictures of it and it seemed it would be hard to break it down. Very thick.
On another vein of this you hit it on the proboscis. Corporations are now people so say the Supreme court. I think with even more rights than us. Their track record of Safety violations rival that of the coal industry. Somehow they are above the law. I so hope they get their ass nailed along with Haliburton and The evil one Cheney himself.

TomCat said...

Tim, the GOP could filibuster it, but that would be political suicide. I've changed my mind on this. $10 billion is not enough. No cap at all is justified.

Tim said...

TC
I hope I'm wrong but somehow BP will get out of it. Thanks for stopping by. Talk to you soon

Distributorcap said...

somehow BP will get out or get off cheap

they always do

for the sea turtles - not so cheap

one day we will realize how awful we are treating the planet - and it will be too late- even for the rich bastard oil execs - there will be no escape

Tim said...

Cappy
What a sad commentary summing up Man's existence.