Obama to demand BP claims fund
Source: Agencies |
June 14, 2010, Monday
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FACING criticism over the federal government's response to the massive oil spill, US President Barack Obama will demand that BP create a special account with "substantial" reserves to pay Gulf oil claims and is readying aid packages for the region.
Obama, who is set to visit the Gulf Coast today and tomorrow, also plans a Tuesday night address to the nation about the disaster after his return to Washington, his top political adviser, David Axelrod, said yesterday. Obama meets at the White House with BP executives, including the oil company's chairman, on Wednesday.
"This is an ongoing crisis, much like an epidemic," Axelrod told NBC television's "Meet the Press."
BP's board was to meet today to discuss deferring its second-quarter dividend and putting the money into escrow until the company's liabilities from the spill are known.
"Our mission is to hold them accountable in every appropriate way," Axelrod said.
BP's public image has taken a beating and its stock price has plunged since the April 20 explosion of a deep-sea rig that killed 11 people and triggered a massive oil spill that has coated parts of the Gulf Coast with stinking, dark piles of crude and created environmental and economic devastation.
A top BP executive on Saturday acknowledged the growing tensions between the oil giant and the federal government but also tried to give a boost to workers at a command center, reminding them of the huge challenge they face as they try to stop the oil leak and keep the crude away from the fragile Gulf Coast.
Hours before BP's chief operating officer, Doug Suttles, thanked hundreds of BP workers, government officials and contractors at the command center, the Coast Guard made public a testy letter sent to him demanding the energy giant pick up its pace and present a better plan to contain the spill by the time Obama arrives at the beleaguered coast.
The White House wants an independent, third party to administer an escrow account and compensate those with "legitimate" claims for damages, Axelrod said.
In addition, the Obama administration will announce several aid packages.
The president will make clear in his meeting Wednesday with BP's chairman, Carl-Henric Svanberg, and others about his expectation of BP's responsibility for caring for people affected by the spill.
Obama, who is set to visit the Gulf Coast today and tomorrow, also plans a Tuesday night address to the nation about the disaster after his return to Washington, his top political adviser, David Axelrod, said yesterday. Obama meets at the White House with BP executives, including the oil company's chairman, on Wednesday.
"This is an ongoing crisis, much like an epidemic," Axelrod told NBC television's "Meet the Press."
BP's board was to meet today to discuss deferring its second-quarter dividend and putting the money into escrow until the company's liabilities from the spill are known.
"Our mission is to hold them accountable in every appropriate way," Axelrod said.
BP's public image has taken a beating and its stock price has plunged since the April 20 explosion of a deep-sea rig that killed 11 people and triggered a massive oil spill that has coated parts of the Gulf Coast with stinking, dark piles of crude and created environmental and economic devastation.
A top BP executive on Saturday acknowledged the growing tensions between the oil giant and the federal government but also tried to give a boost to workers at a command center, reminding them of the huge challenge they face as they try to stop the oil leak and keep the crude away from the fragile Gulf Coast.
Hours before BP's chief operating officer, Doug Suttles, thanked hundreds of BP workers, government officials and contractors at the command center, the Coast Guard made public a testy letter sent to him demanding the energy giant pick up its pace and present a better plan to contain the spill by the time Obama arrives at the beleaguered coast.
The White House wants an independent, third party to administer an escrow account and compensate those with "legitimate" claims for damages, Axelrod said.
In addition, the Obama administration will announce several aid packages.
The president will make clear in his meeting Wednesday with BP's chairman, Carl-Henric Svanberg, and others about his expectation of BP's responsibility for caring for people affected by the spill.
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