BP Can Make It Up to U.S. With Future Profits: Alice Schroeder
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How much should BP Plc pay in damages for the Deepwater Horizon catastrophe? The Gulf of Mexico could be as emulsified as vinaigrette by the end of summer. One model shows oil may have migrated up the East Coast by then. No one really knows how bad it will be, only that it keeps getting worse.
President Barack Obama has proposed that BP set aside a substantial escrow fund, modeled after the Sept. 11th Victim Compensation Fund, that will ensure the company meets its obligations. But the 9/11 fund, while an obvious comparison, is the wrong precedent to use for this case.