Kilroy: No BP Bailout!

Press Release

Today U.S. Representative Mary Jo Kilroy (OH-15) introduced a resolution expressing the sense of Congress that British Petroleum (BP), Halliburton and other responsible parties should reimburse the federal government for all cleanup costs involved with the massive spill in the Gulf Coast. The disaster was caused when the BP leased Deepwater Horizon drilling platform sank in to the Gulf of Mexico releasing untold amounts of oil into the ocean. Kilroy's resolution mentions the more than $98.4 billion in profits BP reaped from 2005 to 2009 as oil prices reached record highs.

"Today I introduced a sense of Congress that stands firm with the American taxpayer that we will not pick up the tab for BP and their partners' reckless behavior," said Kilroy. This emergency needs a swift and massive response to limit the environmental and economic damages, and we must ensure that the cleanup costs are paid for by the parties responsible," said Kilroy. "BP and their partners continue to shift the blame for this disaster while tar balls float toward our coast and wildlife dies and so we need to stand with one voice and say No BP Bailout!"

Kilroy's resolution would take the administration's claims a step further as yesterday Interior Secretary Ken Salazar assured a Senate panel that the Obama administration will hold BP and other companies "fully accountable" for cleanup of the massive oil spill in the Gulf of Mexico as well as for economic damages to businesses and residents. Though the administration has made these assurances, Congress has yet to express that they stand resolute with the taxpayers.

The sense of Congress resolution holds that BP knew the risks and responsibilities associated with offshore drilling. BP is currently hedging its responsibility for the cleanup costs both in the press and in front of congressional committees investigating this disaster. The resolution reiterates that BP must be held accountable for the billions of dollars worth of damage it has caused.

The resolution was introduced today and will have a bill number shortly. The full text is below:

Expressing the sense of Congress that BP p.l.c. should reimburse all costs incurred by the Federal Government in assisting with cleanup efforts in the Deepwater Horizon oil spill incident in the Gulf of Mexico.

Whereas BP p.l.c. was responsible for drilling operations of the Deepwater Horizon offshore drilling rig in the Gulf of Mexico that resulted in a massive and continuing oil spill;

Whereas David Kotok, chairman and chief investment officer of Cumberland Advisors, estimates that the cost of the cleanup effort in response to the Deepwater Horizon oil spill incident will exceed $12,000,000,000;

Whereas during fiscal years 2005 through 2009, BP p.l.c. announced profits totaling $98,402,000,000;

Whereas in the first quarter of fiscal year 2010, BP p.l.c. has announced a profit of $5,598,000,000; and

Whereas the Exxon Mobil Corporation paid $7,000,000,000 for cleanup and damage assessments for the Exxon Valdez oil spill incident, including for containment booms, burning, dispersants, skimming, and hot-water and highpressure treatments:

Now, therefore, be it
Resolved by the House of Representatives (the Senate concurring), That it is the sense of Congress that BP p.l.c. should reimburse all costs incurred by the Federal Government in assisting with cleanup efforts in the Deepwater Horizon oil spill incident in the Gulf of Mexico.

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