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BP Oil,BP expects,Obama

Posted By saileshdungrani on May 25, 2010   FROM: 24discover.blogspot.com report abuse

In response to the widespread pollution of BP Oil, Congress prepared to quadruple - 32 cents a barrel - a tax on kerosene used to finance cleanup activities. Increase would raise 11 billion U.S. dollars over the next ten years.

Legislators want to raise taxes 8 cents per barrel of oil to ensure there is enough money available to respond to leaks. At least six million gallons of crude oil has vomited in the Gulf of Mexico from drilling rig exploded 20 April.

Obama and congressional leaders said BP expects to pay the bill for cleaning.

BP executives testified to Congress last week that they would pay "all claims of damage légitimes''de. But the government needs the money from the outset to respond to leaks, and the resources to pay for just the party responsible is unable to pay or is unknown.

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