WASHINGTON (AP) - The Obama administration is promising to make BP foot the bill for the massive Gulf Coast oil spill, but it may not be as simple as it sounds.
Foreseeing a new outbreak of bailout rage, the president's been adamant BP will be handed the bill. The administration is keeping track of cleanup costs.
But while the law passed after the Exxon Valdez spill makes the oil company liable for cleanup costs, it sets a cap of $75 million for other kinds of damage. The damage to Gulf fishermen, the tourist trade and other industries is likely to go well beyond that.
Some lawmakers have introduced a bill to raise the limit to 10 billion, but that would not apply retroactively.
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