BP execs admit amount of oil being spilled could be 10x estimated flow

BP yesterday announced that they were giving $25 million to each of the 4 gulf states dealing with the disaster, including Florida.

Tampa Democratic Congresswoman Kathy Castor issued a press release after the closed door session with BP, as well as Transocean and Haliburton executives and engineers (the latter companies having leased the drilling rig equipment to the oil giant).

She said BP didn't necessarily 'man up', as it were:

“I went to the briefing expecting to hear that BP is committed to paying for the cleanup, that they accept full responsibility and to hear that the situation is under control. Unfortunately, that is not at all what I heard. Their answers were vague and lacked specificity, and sometimes they didn’t have the answers at all. Their remarks were especially unsettling about progress staunching the flow and the volume of oil spilled. We must hold these companies accountable.

“I remain firm in my belief that this disaster demonstrates that oil drilling threatens our beaches, our environment and jobs in our region. We cannot and we must not allow drilling even one mile closer to our fragile shorelines.”

According to today's New York Times, a senior executive with BP admitted yesterday that the oil spill flowing through the Gulf of Mexico could be 10 times - or 60,000 barrels a day of oil.

That comment came during a closed to the press briefing between executives with BP and members of Congress.  The Times also reports that BP's Tony Hayward admitted to Florida U.S. Senator Bill Nelson that the spill will definitely cost more than $75 million in economic damage, which is all they are liable for under current law (Nelson and New Jersey's two senators, have introduced legislation to raise that cap to $10 billion, and want to grandfather BP into that proposed law).

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