Oil Companies Face Unlimited Liability in Bill Passed by House
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Oil companies drilling in U.S. waters would face unlimited liability and BP Plc would be barred from new offshore leases under legislation passed by the House three months after the worst spill in U.S. history.
House Democrats on a 209-193 vote yesterday pushed through the overhaul of drilling safety and environmental rules over Republican opposition. The bill also puts into law the Obama administration’s elimination of the Minerals Management Service, the Interior Department agency cited for lax oversight.