1st Attempt To Raise Oil Spill Liability Cap Fails

Law360, New York (May 13, 2010, 6:40 PM EDT) -- Sen. Lisa Murkowski, R-Alaska, blocked an attempt in the Senate Thursday to quickly approve a bill from Sen. Robert Menendez, D-N.J., that would have raised the cap on private companies' liability for economic damages stemming from oil spills from $75 million to $10 billion.

Murkowski objected to a motion to unanimously consent to passage of the Big Oil Bailout Prevention Act, introduced May 3 by Sens. Menendez, Frank Lautenberg, D-N.J., and Bill Nelson, D-Fla., in response to concerns that the current liability limit would allow BP...
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