BP President Concedes Responsibility, Says Company Will Respond To All 'Legitimate' Claims

By Benny Martinez – University of New Mexico / Talk Radio News Service

BP America Chairman and President Lamar McKay told the Senate Energy and Natural Resources Committee Tuesday that BP will take full responsibility for the disastrous Deepwater Horizon oil spill that began on April 20th.

“Liability, blame, fault, put it over here,” McKay said. “We are the responsible party.”

As the country laments the death of 11 rig workers and the injury of 17 more, investigations remain ongoing in an effort to decipher what exactly went wrong.

“A full answer to those questions will have to await the joint investigation by the Departments of Homeland Security and Interior, Congress and an independent internal investigation that BP is conducting,” McKay said.

The biggest problem facing BP America is taking control of an oil well that continues to spew nearly 5,000 barrels of oil per day into the the Gulf of Mexico. Adding to the problem, an oil slick continues to threaten Gulf Coast states, adversely affecting the economy of the region.

A second attempt at capping the well using a containment system to funnel oil to ships 5,000 feet above is underway after an initial attempt failed. Biodegradable dispersants are being used to expedite the natural degradation process of oil and two relief wells are currently being drilled, a two to three week process, to permanently secure the spewing well.

Compensating Gulf Coast businesses and communities creates a more expensive challenge for BP to handle. According to McKay, BP is fully prepared to pay for the monetary damage resulting from the spill, even if that means exceeding a previously established $75 million liability cap.

“We are going to pay all legitimate claims,” the BP President said. “As to the $75 million, we think that we’re going to exceed that and that is irrelevant. We’re going to pay the claims and the entire resources of BP are behind this.”