BP executives announced today they will pay their shareholders zero dividends this year and setup a fund with an initial payment of $20 billion to be overseen by a Whitehouse appointee for payouts to people affected by the oil rig accident in the Gulf.

All of this despite the law of the land that currently sets a cap on damages for oil companies at $75 million. Now, right or wrong, that is what the government under Clinton decided and this is another example, IMHO, of too much government involvement.

BP has already paid over $50 million in claims. Residents can still go to court for additional claims and Obama made clear the $20 billion is not a cap on what BP may pay.

What is wrong with this picture? This is scary stuff people. Obama is using Spain as his model for a "green economy" and last night he took the majority of his time speaking to Americans about the Gulf pushing Cap and Tax and green jobs. Take a look at Spain and tell me if you want this to be your America.


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http://www.nytimes.com/2010/06/17/us...s/17obama.html

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http://www.thetimes.co.uk/tto/news/w...cle2559106.ece