WaPo Contadicts Self on BP Trust Fund
Reporting on BP’s agreement to establishing a $20 billion trust fund for oil spill related claims, Scott Wilson and Joel Achenbach reported on page A1 of the June 17th Washington Post:
Both sides got what they wanted out of the encounter. The administration, under fire for how it has responded to the environmental calamity, can boast of creating a huge pot of money for easing the pain of Gulf Coast residents. BP, though poorer on paper in the short run, got some much-needed clarity on its long-term liability.
But then just two paragraphs later Achenbach and Wilson reported:
The figure is not a cap on the potential damages, and the company received no liability waiver as part of the agreement.
So if there is no cap on damages, and no waiver on liability, what “clarity” did BP get in exchange for their $20 billion exactly?