Friday, May 28, 2010

Jindal and BP (NYSE:BP) Excuses from Obama

Louisiana Governor Bobby Jindal is putting pressure on Barack Obama concerning BP (NYSE:BP) and their responsibility in helping pay for 24 barrier islands which would be used to protect the coastline of Louisiana from leaking Gulf oil.

The problem for Obama is he has said a lot of talk and rhetoric concerning BP in an attempt to protect himself and his administration politically, which is somewhat understandable, but the problem is his rhetoric and tough talk may not be legally backed up as to what BP should and should not pay for.

For example, building these barrier islands would seem to be under the blanket statement made by Obama that the responsibility for paying for the disaster belongs to BP. The problem is there is no determination yet as to the cause of the disaster and how far and wide the payments from BP will be allowed to go.

Jindal is rightly frustraed by this, as it seemed Obama had said whatever is legitimately needed to be done to take care of the consequences of the spill are on BP, yet the talk has continued but action hasn't.

"We don't understand why our federal government would be making excuses for BP." Said Jindal. "They're the responsible party. They're the ones that caused this oil spill... it is their oil that is showing up in our coast and our wetlands and our marshes. It just makes sense that they pay to clean up this damage."

Of the 24 barrier islands Jindal wants built, the federal government has only agreed to pay for a small portion of the cost, adding to the frustration and lack of decision.

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