There’s little I ever agree with Sen. Boxer on – but on this one I’m in agreement. I am president of my own insurance recruiting firm (www.iresinc.com) and my company has always been liable for any impact we’ve caused on others due to our own errors or liability.
Why should an oil company get a free pass.
This is good legislation which will incentivize companies from taking short cuts in drilling.
While I agree people & business should be held accountable to all laws. I do not think a law should ever be changed retroactively. That means ANY law could change…lightly speaking…I drive past a speedlimit sign that is 65, and all of a sudden they change it to 45 retroactively and I get a wreckless driving ticket…change the law today’s date and forward, but don’t penalize due to not having 20/20 hindsight.
I think you’re right. Although it won’t make a monetary difference in this instance since BP agree to lift its own limit, it does send a “We don’t have to obey the law message”. They should have just acknowledged the current law was insufficient, changed it effective now and moved on. Congress should have to play by its own rules. No do-overs.
Notice they are only retroactive when it fits the push for larger agendas. BP has already agreed to set aside $20 bil. Ultimately, the costs will be transferred to the public regardless of who pays. If not a retroactive change in the law, Obama will pay with our money. He’s such a nice man…. Sometimes good intentions are short sighted or serve to fulfil the agenda of the socialist leadership of our great country.
From a business point of view, I think it is amazing that the law can be changed retroactively. How can you run a business with this kind of threat hanging out there.
Now, I do think in this case it is a good law. BP has the ability to pay for the damages they are causing with this leak, and so they should. When they have the cash to pay, it should not fall on the taxpayers. Maybe this is an inherent risk in the oil drilling business. But again, from a business point of view, what if BP was a small company relying on the $75 million cap and therefore insured themselves only for that limit. They would be screwed.
Is this a political move or a constitutional legal binding law. How do you create laws that punish retroactively and say they are fair. Why was there a cap on their liability? Did the companies rely on this cap in their decissions to drill at deeper depths because of the incentive to do so by the government? Yes! So now its retroactive? WHAT?
Doesnt the Senate and US House of Reps, President and even the Supreme Court take an Oathe to preserve and protect and uphold the US Constitution?
Maybe they should review that Oathe.
Lets see new bankrupcy laws for GM where Unions get in the front of the line. Healthcare legislation passed be deeming it approved, Making us buy healthcare insurance or get fined? Now making punishing legislation for oil companies retroactive?
Even if we could vote them out, they get paid (full pay) for the rest of their life. Call it “welfare” or Pension. Either way, they would be paid like their constituents; for doing nothing. — Only they “minimum wage” is $140,000. go figure..
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There’s little I ever agree with Sen. Boxer on – but on this one I’m in agreement. I am president of my own insurance recruiting firm (www.iresinc.com) and my company has always been liable for any impact we’ve caused on others due to our own errors or liability.
Why should an oil company get a free pass.
This is good legislation which will incentivize companies from taking short cuts in drilling.
While I agree people & business should be held accountable to all laws. I do not think a law should ever be changed retroactively. That means ANY law could change…lightly speaking…I drive past a speedlimit sign that is 65, and all of a sudden they change it to 45 retroactively and I get a wreckless driving ticket…change the law today’s date and forward, but don’t penalize due to not having 20/20 hindsight.
I think you’re right. Although it won’t make a monetary difference in this instance since BP agree to lift its own limit, it does send a “We don’t have to obey the law message”. They should have just acknowledged the current law was insufficient, changed it effective now and moved on. Congress should have to play by its own rules. No do-overs.
Notice they are only retroactive when it fits the push for larger agendas. BP has already agreed to set aside $20 bil. Ultimately, the costs will be transferred to the public regardless of who pays. If not a retroactive change in the law, Obama will pay with our money. He’s such a nice man…. Sometimes good intentions are short sighted or serve to fulfil the agenda of the socialist leadership of our great country.
Can we vote out Congress retroactively?
From a business point of view, I think it is amazing that the law can be changed retroactively. How can you run a business with this kind of threat hanging out there.
Now, I do think in this case it is a good law. BP has the ability to pay for the damages they are causing with this leak, and so they should. When they have the cash to pay, it should not fall on the taxpayers. Maybe this is an inherent risk in the oil drilling business. But again, from a business point of view, what if BP was a small company relying on the $75 million cap and therefore insured themselves only for that limit. They would be screwed.
Is this a political move or a constitutional legal binding law. How do you create laws that punish retroactively and say they are fair. Why was there a cap on their liability? Did the companies rely on this cap in their decissions to drill at deeper depths because of the incentive to do so by the government? Yes! So now its retroactive? WHAT?
Unconstitutional? I believe so!
Doesnt the Senate and US House of Reps, President and even the Supreme Court take an Oathe to preserve and protect and uphold the US Constitution?
Maybe they should review that Oathe.
Lets see new bankrupcy laws for GM where Unions get in the front of the line. Healthcare legislation passed be deeming it approved, Making us buy healthcare insurance or get fined? Now making punishing legislation for oil companies retroactive?
They are going to do it again, shoud they ever pass the Flood insurance program. It will be retroactive and will have to cover the claims from H.Alex.
Even if we could vote them out, they get paid (full pay) for the rest of their life. Call it “welfare” or Pension. Either way, they would be paid like their constituents; for doing nothing. — Only they “minimum wage” is $140,000. go figure..