"I want to thank the Chairman for holding this hearing today on Senator Bob Menendez's bill, S. 3305, the Big Oil Bailout Prevention Liability Act of 2010. I look forward to the opportunity to take a closer look at liability issues associated with our nation's offshore oil and gas industry.
"As I have mentioned before, my heart goes out to the folks impacted by this terrible accident -- to the families of the eleven workers that died and those that were injured. And my heart also goes out to the thousands of workers, individuals and families in the Gulf of Mexico that depend on the Gulf's waters and shores for their economic livelihood.
"As a member from a coastal state, I can say that I truly understand the importance of our shorelines to our local and national economies.
"Our oceans and shores give life to many, many industries: tourism and recreation, the fishing industry, transportation, construction, research and education, real estate, and many, many more. And so we must work to make sure that the laws that we have in place protect these critical industries from economic harm in a fair and real way.
"Today's hearing is an important step in helping Congress figure out what kinds of reforms are needed to make sure that liability for the offshore oil and gas industry holds responsible parties accountable for their actions.
"I look forward to hearing from our witnesses today on how we might best go about reforming our liability laws for the industry, and what other reforms might be needed to better protect our businesses and our environment from suffering further damages in the wake of this terrible accident."