Klobuchar Calls for BP Damage Fund

Minnesota Senator Amy Klobuchar has joined other senators in a letter sent to BP Chief Executive Officer Tony Hayward asking that the company establish a special $20 billion account to be used for payment of economic damages and clean-up costs in response to the ongoing oil spill in the Gulf of Mexico. The account would ensure that there will be no delay in payments or attempts to evade responsibility for damages.

 

In the letter, the senators cite the lessons of history from past spills and the need to ensure financial security for those persons and industries whose lives have been harmed.  The senators requested a response to this letter no later than Friday,in light of the urgency of the matter. 

 

The Obama Administration has indicated support for the measure, and President Obama is expected to formally announce his push for the account during his Oval Office address Tuesday night.

 

As a member of the Environment and Public Works, Judiciary, and Commerce committees, Klobuchar has participated in hearings and called for BP to be held accountable, increased safety measures to prevent future oil spills, greater scrutiny of the relationships between the oil companies and the federal agencies that regulate them, and fair compensation for the families of the 11 workers killed in the explosion of the Deepwater Horizon rig. On May 7, Klobuchar visited the Gulf Coast as part of a bipartisan delegation to assess the oil spill and met with federal officials and local leaders about ongoing recovery efforts.