Thanks, Diane, for sending me this. By the time I saw it, it was all over the news.

Ugly, isn’t it?

BP probably held it back, because analysis of the video reveals that the leak is over 70,000 barrels a day. The original estimate from the Coast Guard, based on BP data was 5,000 barrels per day. So what we have is one Exxon Valdez disaster every four days.

Democrats in the Senate are trying to raise the liability cap from $75 million to $10 billion. That’s still too low. BP annual profit is double that. The only cap for a disaster of this magnitude is $infinity. But even the overly lax cap of $10 billion is too much for the GOP.

Alaska’s senior senator blocked legislation Thursday that would have dramatically increased liability caps on oil companies, in the wake of one of the industry’s biggest disasters. Sen. Lisa Murkowski (R-Alaska) objected to a voice vote request by Sen. Robert Menendez (D-N.J.) on the bill, which would have spiked the maximum liability for oil companies after an oil spill from $75 million to $10 billion. The legislation has significant support from Democrats, and the White House has indicated it backs an increase in liability caps. But Murkowski said the legislation is “not where we need to be right now” and would unfairly advantage large oil companies by pricing the small companies out of the market. Murkowski did signal that she would be open to "look at the liability cap and consider raising it.” Just not at this moment. Menendez, speaking to reporters after the bill was halted on the Senate floor, said the opposition indicates that Republicans are on the side of the oil companies, not the American people. There had been no formal floor debate or roll call vote requested on the legislation. “It’s straightforward, it’s common sense,” Menendez said. “Either you want to fully protect the small businesses, individuals and communities devastated by a man-made disaster — this is not a natural disaster; this is a man-made disaster — or you want to protect multibillion-dollar oil companies from being held fully accountable. Apparently there are some in the Senate who prefer to protect the oil companies.”… [emphasis added]

Inserted from <Politico>

Murkowski offered two main arguments. First is that Big Oil has unlimited liability already, because anyone can sue them. Tell that to the victims of Exxon Valdez spill. After twenty years, many have died of old age waiting to see the first penny. The people whose livelihoods are gone need justice now, not 20-30 years from now… if the live that long.

Second, Murkowski argued that it would put “mom and pop” operators out of business by making the cost of their liability insurance so high that they could not afford to operate. Earth to Murkowski! Is anyone home? There are no mom and pop companies in deep offshore drilling. If there were, any company that cannot afford liability for the damage they cause has no business being in business. If I can’t afford auto liability insurance, I have no business driving a car.

Many in the GOP are shaking their heads in mock shock that one lone Senator could do such a thing. Don’t you dare believe that! Theses greedy Republicans goose step in lock step. Murkowski was assigned this role, because she does not face reelection until 2014. The GOP is seeking to help Big Oil avoid responsibility without appearing to do so.