9,000 Victims of Obama Moratorium Eligible for BP Fund

As many as 9,000 victims of the Gulf oil moratorium imposed by the Obama administration will be eligible to receive money from a $100 million fund set aside by BP (NYSE:BP).

Those figures come from the charity BP has chosen to run the fund.

Don't confuse this fund with the $20 billion escrow fund set aside over the next four years by BP to pay for claims related to the oil spill. The parameters of this are only those affected by the oil moratorium.

Applications for the funds can be made from September 1 to September 30 from the Baton Rouge Area Foundation. Workers will receive checks from the charity starting in October.

The process of determining how much money an applicant will be based on comparisons between applications, where the payout could be from $3,000 to $30,000.

There is no reason for BP to be paying money to victims of the Obama moratorium. This sets a dangerous precedent in regard to government officials making decisions and passing the bill onto businesses.

BP should of course pay for everything that has been damaged. The oil moratorium isn't one of them, and was a political decision the Obama administration is covering their tracks with by passing the charges onto BP, which is afraid to resist them because of the potential public backlash.