Sen. Menendez calls for raising BP’s liability to $10 billion

Senator: Liability bill covers Gulf Coast spill
By MATTHEW DALY
The Associated Press
Tuesday, May 4, 2010; 1:45 PM

WASHINGTON — A Democratic senator says legislation to raise the liability limit for the Gulf
Coast oil spill can apply retroactively.

Sen. Robert Menendez of New Jersey is co-sponsoring a measure to raise to $10 billion the liability BP PLC has to pay for damages such as lost wages and economic suffering in the Gulf Coast spill. The current liability limit is $75 million, an amount Menendez called a “drop in the bucket.”

Menendez said Tuesday he was confident that the measure could apply retroactively. He cited the Superfund law that forced companies to pay for previously polluted hazardous waste sites.

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