Despite the billion-dollar costs associated with the Gulf Coast oil spill, Big Oil companies enjoy the protection of a $75 million dollar cap on liability. Unless the cap is increased, these companies, earning profits in excess of $24 billion in the first quarter of 2010, will only have to legally pay for a fraction of the overall economic impact of this preventable disaster. In recent weeks, Senate Democrats have brought forward legislation that would ensure Big Oil companies pay for their own mistakes by raising the liability cap for offshore oil well spills. Senate Democrats have also released a letter to BP CEO Tony Hayward, calling on the company to put aside $20 billion in a special account to ensure repayment to victims of the spill. 

Blindly trusting Big Oil to take full responsibility, Senate Republicans have blocked this legislation and left hard-working American families at risk of paying for the economic damage caused by oil spills. Last month, Senate Republican Leader Mitch McConnell defended the oil industry by stating that BP would “pay for this.” 

Have Republicans forgotten about Big Oil’s track record? 

 

Here is a look back at the oil companies’ record of negligence in some of the biggest domestic oil spills:

 

Outer Continental Shelf Civil and Criminal Penalties. Oil companies have also continued to violate the Department of the Interior’s regulations stipulated under the Minerals Management Service Outer Continental Shelf Civil and Criminal Penalties Program. Here are just a few examples: 

Senate Republicans should stop trusting Big Oil to own up to its responsibility, and allow this important legislation to pass.