Congressman: BP "Openly Blackmailing the American Government"

BP wants the federal government to meet its demand for continued access to oil and gas leases in the United States. If the oil giant can't keep drilling here, its promise to compensate victims of the Deepwater Horizon disaster might go unfulfilled—or so the company claims.

But the idea that BP has to keep drilling in the Gulf in order to compensate victims is simply not true. According to its last quarterly report, BP's assets and investments are valued at approximately $248.6 billion. The company has plenty of money. Unfortunately, the US government set up the oil spill compensation fund with BP's Gulf subsidiary, which in practice makes the $20 billion fund reliant on keeping those operations profitable. BP is now using this to strong-arm the government—but only because the administration let it.

Webmaster's Commentary: 

More proof (if more was needed) that the US government does not work for We the People: it works for corporations only.

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