A BAILOUT FOR BP?

Dear Kay,
A Bailout for BP?
I can’t believe it either.

As the Deepwater Horizon drilling rig continues to spill over 1 million gallons of oil into the Gulf every day, Republicans are demanding less regulation for companies like BP and Transocean while also looking for a taxpayer-funded bailout of BP.1  Yeah, I’m serious.

After a month of oil spewing into the Gulf, the cost of cleaning up BP’s mess is $542 million and counting. But a group of Republican senators led by Lisa Murkowski of Alaska want the company to pay for only the first five days of the cleanup and put taxpayers on the hook for everything else.2

That’s right, Murkowski and her pals want to “Bail out BP.”

We need to tell Murkowski and her Senate colleagues that this is not OK. Can you send a message to your senators that it’s time to end offshore drilling and focus on clean energy instead?

BP makes over $3.9 million EVERY HOUR.3 In the 31 days since the rig exploded, they’ve earned over $2.8 billion. Meanwhile, BP lawyers are working overtime to make sure that they are on the hook for only $75 million of the cleanup cost. And Murkowski and her allies think that’s just fine because, to them, fewer rules are a good thing.

First, they wanted less regulation for Wall Street and the banks (look where that got us). Now, they want to do the same for oil companies. It’s outrageous. We need oversight that protects our communities and environment — not another taxpayer-funded bailout of the oil companies.

Congress needs another wake-up call to remind them that we’re watching. Congress can’t continue to let corporate America avoid responsibility and then bail them out when they can’t clean up their own mistakes.

Tell your senators to say no to the BP bailout and to focus on clean energy solutions instead.

Thanks,

-Drew

Drew Hudson
TrueMajority / USAction

1 – cbsnews.com/8301-503544_162-20005333-503544.html
2 – reuters.com/article/idUSTRE6412H820100502
3 – washingtonpost.com/wp-dyn/content/article/2010/05/10/AR2010051004664.html

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