Romanoff to Big Oil: Pay for Damages
Senate Candidate Proposes Lifting Cap on Corporate Liability
U.S. Senate candidate Andrew Romanoff called on Congress to force oil spillers like British Petroleum, Anadarko and Mitsui to pay for the damages they caused in the Gulf of Mexico, by lifting the cap that limits corporate liability to $75 million.
"We are facing one of the worst economic and environmental disasters in American history," Romanoff said. "The companies responsible for this catastrophe - not the taxpayers who suffer from it - should foot the bill."
As residents of the Gulf Coast watch the oil reach their shores, they are expecting the damage to cost billions. Thanks to our nation's corporate friendly laws, the companies responsible for this disaster, BP, Anadarko and Mitsui, have their strict liability capped at $75 million.
Sen. Robert Menendez (D-NJ) has introduced legislation that would raise the cap on civil liability from $75 million to $10 billion - a measure Romanoff endorsed as a step in the right direction.
"It's time for Sen. Bennet and others in Congress to put the interests of the nation ahead of their corporate contributors," Romanoff said. "The coastal communities stand to lose billions of dollars in revenue. That's not chump change to a fisherman or an innkeeper; it's the difference between making a living and going broke."
Earlier this month, Romanoff proposed that Congress impose strict safety standards on off-shore drillers, require companies to develop and implement the technology they need to prevent and remedy spills, and accelerate the production and use of alternative energy sources.
"Big Oil and its corporate lobbyists have enough politicians on their payroll," Romanoff said. "We need a senator for the rest of us."
