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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (44470)7/31/2010 5:01:45 AM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
Just found some clarifying language concerning the federal cap on off-shore oil spill liability.

It's a SPECIFIC sort of boon to the companies.

Provides legal protection against claims for "economic damages" (which I suppose would cover things like shrimpers and fishermen's lose of business, hotels' and resorts' loss of business, real estate's loss of value, etc.) but NOT cleanup costs.


... the $75 million ceiling on the economic and natural-resource damages companies can be forced to pay for offshore oil spills. Under existing law, companies already are responsible for all pollution cleanup costs.


I'd wager that cleanup costs are likely to be the smaller potential cost of the two....
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