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Senate panel to probe oil spill's federal costs

By Ed O'Keefe

Updated 3:56 p.m. ET
How much has the BP oil spill cost taxpayers and when will we get our money back!?

Senators plan to put those questions to oil executives and other government officials at a hearing scheduled for Wednesday afternoon, the same day President Obama plans to meet with BP company officials about establishing an escrow account to repay victims of the spill.

Sen. Tom Carper (D-Del.), who chairs the subcommittee on federal fiscal management, has invited BP Vice President Darryl Willis (who stars in a new company video about the company's claims process), Transocean President and CEO Steve Newman and representatives of the Coast Guard and Government Accountability Office.

In a statement, Carper noted that Obama last week sent a $69 million bill to BP.

"The tab sent to BP and other responsible parties last week is likely the first of many, and I hope we can expect payment soon," Carper said.

Carper's office said the hearing will focus on the future viability of the Oil Spill Liability Trust Fund and to explore what steps are being taken to ensure reimbursement happens quickly.

Separately, the Commerce Department Office of Inspector General said it plans to track how the National Oceanic and Atmospheric Administration pays for its ongoing operations in the Gulf Coast. Five of the agencies office have deployed personnel and equipment to the region, the watchdog said.

By Ed O'Keefe  | June 14, 2010; 12:29 PM ET
Categories:  Congress  
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Comments

We already know EXXON got off having to pay only 10% their liability for their oil spill!

Will BP get off easy too?

Yes, if Repugs regain control...

Posted by: beenthere3 | June 14, 2010 1:05 PM | Report abuse

BP executives are still Lying about Oil Spill Rates, Lying about Oil Plums, Lying about Intimidating Cleanup Workers from discussing the spill, and Nickel and Diming Cleanup and Reparations while setting aside Billions for Stockholder Dividends. This Oil spill is an Attack on America and these guys should be arrested Immediately.

Prosecution and Jail for all BP and MMS Managers Responsible for the Oil Gusher and Fine BP Wrath of God Money ($100~400 Billion) as that is the Only thing that will force these Companies to stop;

* Falsifying, inspections,
* Neglecting key safety equipment,
* Failing to perform key checks and maintenance, and
* Harassing and Intimidating workers, and whistleblowers.

There is the Cost for Cleanup ($60~$100 Billion), Cost for Decades of Lost Income of USA and Gulf Coast Residents ($100 Billion) and the Cost for Criminal Negligence (Double these two Costs: $320~400 Billion).

Legendary Coach John Wooden said "Failing to Prepare is Preparing to Fail."

Here is How the USA Prepares BP, Royal Dutch Shell, ExxonMobil, Chevron, Marathon and Others Not To Fail;

* Require Current Drillers to be subject to new Insurance and Safety Regulation Requirements (& Frequent Inspections to Verify compliance and well maintained 450 Ton Blow-Out Preventers (BOP), Storage Tanks leak checks, and Pipeline Cleaning and Corrosion checks.

* Require Secondary Relief Wells for all Current and Future Deep Sea Drilling. It's Crazy to allow Current Drillers to not have Secondary Relief Wells and potentially create a Duplicate Disaster.

* Require Remote Acoustic Triggers for Shut Off Valves,

* Require Drillers to be Insured for Worst case Scenario ($100 Billion ~ $500 Billion).

* Raise the Oil Spill Liability Trust Fund supported by industry fees from $1 Billion to $500 Billion.

* End the Billions in Tax breaks for Oil Companies and end all fossil-fuel subsidies.

BP has Billions set aside for Stock Dividends. We need to do all possible to Block and Redirect those payments to USA Clean-Up, Recovery, Reparations and Penalties.

Posted by: liveride | June 14, 2010 2:08 PM | Report abuse

The USA, Obama, Congress, Senate, FEMA, Coast Guard, National Guards; must Take over Clean up Operations from BP. Remove BP from Cleanup Operation! They are the Criminals!! The USA should hire Private Companies to do it and Bill all Expenses to BP.

Both BP and Federal Scientists have known for weeks the Spill was up to 100,000 Barrels a Day but have still Dragged their feet on Removing and Arresting BP Obstructionists and Ordering Supertankers to suck in oil off the water, Barges with suction Pumps and Separators, a Massive Million Man effort to lay Millions of Oil Absorbing Hay Bales, Smart Sponges, and other Equipment like Hazmat Suits and Vacuums to suck up on shore Oil.

Eric Holder; get off your lazy butt and Arrest the BP Executives and Lawyers that are destroying the Gulf Coast and Constantly Lying and Withholding Evidence. The Oil Gusher is a National Man Made Terrorist Disaster perpetuated by BP. You don’t ask Drug Dealers to Treat Victims of the Drugs they’ve sold, you Don’t Ask Terrorists to clean up the Body Parts of people they’ve Killed, you don’t let Madoff to keep Swindling Investors, and you Don’t Allow BP Executives who have Lied from Day One about Oil Spill rates and What’s Needed to Stop and Clean the Spill to keep Obstructing Operations.

Texas, Louisiana, Alabama, Florida, Georgia, South Carolina and other States will need them soon, as well as Millions of Hay Bales. This includes Salaries, Transportation, Equipment and Accommodations all billed to BP. The regions hotels suffering from Cancelations could use the business, and the country needs both the Jobs and the Clean Up.

Bill BP for the Clean up costs Weekly even if it’s $1 Billion a week. "Get the Money and Clean it UP". The Longer it takes to Stop, the Longer they Pay for the Damage.

Posted by: liveride | June 14, 2010 2:30 PM | Report abuse

http://www.investors.com/NewsAndAnalysis/Article/537263/201006141848/Spill-Response-Not-About-Oil-But-Snake-Oil.aspx

Posted by: g55rumpy | June 15, 2010 4:52 AM | Report abuse

Is this going to be one of those things like the snowstorm where bureaucrats who don't work not working was declared to be a massive expense?

Posted by: seraphina21 | June 17, 2010 11:11 AM | Report abuse

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