BP CEO Tony Hayward has said that his company will pay for all “legitimate” damages caused by the Deepwater Horizon oil spill, but those expenses are impossible to calculate as the site continues to spew more than 200,000 gallons of crude into the Gulf of Mexico every day. As the costs escalate, both the White House and Congress are taking measures to ensure that BP adequately compensates for the economic damage that is bound to occur in the volatile communities along the Gulf Coast and possibly beyond. In BP’s favor is a mere $75-million cap on liability for oil-spill damages ... Read More
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