BP agreed in a recent meeting to compensate businesses that have suffered as a result of the 2010 Gulf Oil Spill. Those businesses would include fishermen, shrimpers, hotels, and other Gulf Coast businesses.
When I see it I will believe it. Simply stated a corporation of this size is not going to voluntairly part with their money. Will they pay some businesses. Sure the businesses with deep enough pockets to fight a sustained battle. BP will burn through the insurance money that covers this sort of thing but once the insurance money is gone you will not see anymore money. And we can not forget about the obligatory class action law suites that will surely make a lot of lawyers rich but put 2.99 in each of the clients pockets.
BP being responsible for 100% of the effects of this mess is not a handout. BP will likely cause Florida businesses and employees billions of dollars.
How is BP going to compensate the waiter that lost his job or maybe he did not loose his job but gets no tips because of no visitors. The business owner is not going to simply pay the waiter their normal wage.
It will likely be so difficult to get meaningful amount of money from BP that it will be a waist of time and energy.
The reality of it is that we as individuals and business owners are going to absorb the cost of BP’s mistake. It’s not fair but it is simply not possible for BP to compensate every individual and company on the coast of Florida, Alabama, Mississippi and Louisiana. They do not have the money.
I believe BP should be sold and the revenues to go to the Citizens of the Gulf Coast that are surely going to be impacted for years to come. I understand this was an accident but when I have an accident I am responsible for fixing the problem. Since BP can not really fix the problem they should be made to do as much as possible.
What say you?