BP Says Gulf Compensation is Too Much

Posted on February 17, 2011 
Filed Under General

Interesting story in The New York Times today about BP’s Gulf strategy. After essentially going along with the $20 billion victims compensation program, BP is now arguing that fund leader Kenneth Feinberg’s proposed settlements are too generous. It’s an interesting move for a company that has been raked over the coals by the press and the public for the damage—economic and ecological—done by the spill. Even more interesting is that BP’s 25-page document is posted on the fund’s Web site next to comments from Gulf residents, some who say they’re in danger of losing everything if they don’t get paid a fair amount. Does BP believe that sufficient time has passed since the accident and therefore it can now go on the offensive? I think it’s still too early. What do you think?

–Scott Van Camp

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