Who Pays For The Oil Cleanup? | The New Republic - 0 views
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avivajazz jazzaviva on 04 May 10Big, wealthy oil companies like BP are usually expected to pay to the cleanup costs themselves. But that still leaves the cost of all the indirect damage to fisheries and wildlife habitats in the area. In that case, under current law, an offshore rig operator is liable for up to $75 million in damages. After that, the federal government picks up the tab, using an oil spill liability trust fund that's paid for by a tiny tax on oil (amounting to one-tenth of 1 percent of the price).