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BP Calls Oil Spill Claims Formula Too Generous

NEW ORLEANS (AP) -A document purporting to be from a major business was posted on the Gulf Coast Claims Facility's website.

The name of the business and other identifying references were removed, but a spokeswoman for the fund confirmed the comments were written by BP.

The document says Kenneth Feinberg's methodology artificially
inflates future expected losses for victims of the spill.

It claims there is no factual basis to assume Gulf-wide
claimants will experience losses this year equaling 70 percent of
their 2010 losses and losses in 2012 equaling 30 percent of 2010
losses.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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