Wednesday
Jun162010
Markey Pleased By Escrow Decision, But Won't Cut BP Slack
Wednesday, June 16, 2010 at 6:17PM
Rep. Ed Markey (D-Mass.), an influential member of the House Energy and Commerce Committee, applauded the decision Wednesday to establish an independently-managed escrow account to handle the claims filed against BP in the wake of the massive oil spill off the Gulf Coast.
"I commend BP for finally acknowledging that it needs to take care of the victims of this disaster before it takes care of its shareholders," Markey said during a late afternoon press conference.
Although Markey was encouraged by the decision, which was confirmed earlier in the day after President Barack Obama met with several BP executives, the Congressman did not appear ready to cut the oil giant any slack.
"BP has ignored the impact which it has had on the little people," Markey said during the briefing. "It deliberately lied or was grossly incompetent in saying that the spill was only 1,000-5,000 barrels a day."
BP CEO Tony Hayward is scheduled to appear before the House Energy and Commerce Committee on Thursday. When asked by a reporter what the committee will likely focus on during the hearing, the Massachusetts Democrat replied that BP is still withholding information about the health threats the spill could pose to Gulf Coast residents.
"People are still at risk as long as BP refuses to understand that they have to fully cooperate," Markey explained
$20 billion will initially be put into the escrow fund. However, Markey said that this number will likely grow as the damage to the Gulf continues.
"BP has just made a down payment," said Markey.
"I commend BP for finally acknowledging that it needs to take care of the victims of this disaster before it takes care of its shareholders," Markey said during a late afternoon press conference.
Although Markey was encouraged by the decision, which was confirmed earlier in the day after President Barack Obama met with several BP executives, the Congressman did not appear ready to cut the oil giant any slack.
"BP has ignored the impact which it has had on the little people," Markey said during the briefing. "It deliberately lied or was grossly incompetent in saying that the spill was only 1,000-5,000 barrels a day."
BP CEO Tony Hayward is scheduled to appear before the House Energy and Commerce Committee on Thursday. When asked by a reporter what the committee will likely focus on during the hearing, the Massachusetts Democrat replied that BP is still withholding information about the health threats the spill could pose to Gulf Coast residents.
"People are still at risk as long as BP refuses to understand that they have to fully cooperate," Markey explained
$20 billion will initially be put into the escrow fund. However, Markey said that this number will likely grow as the damage to the Gulf continues.
"BP has just made a down payment," said Markey.
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