Stockman Scott's Political Debate Porch Message Board

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Politics : Stockman Scott's Political Debate Porch

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To: T L Comiskey who wrote (81291)	6/13/2010 6:52:02 AM
From: stockman_scott	Read Replies (1) of 89467

I... Want ... Your ... MONEY!: Florida AG Writes Stern Letter to BP's U.S. GC By Amy Miller Corporate Counsel June 14, 2010 BP's U.S. general counsel has received a stern missive from Florida attorney general Bill McCollum. He wants money, and lots of it. In a June 10 letter (pdf) to John Lynch, McCollum asked the oil giant to deposit no less than $2.5 billion into an interest-earning escrow account to ensure that the oil giant covers the state's losses due to the ongoing Deepwater Horizon oil spill. McCollum, who's in a close race for the Republican gubernatorial nomination, said the state needs the money to prepare for a "staggering blow" to its economy, and the significant impact the spill will have on workers and government coffers. The $2.5 billion is based on an economist's estimate of potential losses in the state. "Florida is already suffering significant economic difficulties as a result of this catastrophic spill," McCollum wrote to Lynch. "The lodging, restaurant, tourism and fishing industries have already been seriously impacted." Florida's annual economy is worth about $600 billion and unemployment rate is 12 percent. BP didn't immediately return a call seeking comment. The spill began April 20 when a BP oil rig off the Louisiana coast exploded into flames, killing 11 workers and unleashing an underwater gusher that is spewing between 600,000 gallons and 1.8 million gallons into the gulf daily. Tar balls and other oil began washing ashore along the western Panhandle last weekend.

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