Admiral Thad Allen, who is the coordinator for dealing with the Gulf oil mess, said that BP needs to “get better at” paying claims from businesses and individuals who have been damaged by BP’s oil gusher.
Referring to BP’s slowness and “cumbersome” process of paperwork and processing claims for damages, Allen said that the problem with BP was a “competency” issue and said “we’re trying to get them some help.”
I think the “help” BP needs is some very strong Federal regulation that REQUIRES them to pay quickly and in full for any and all damages!
Remember that BP is a for-profit corporation which is only concerned with its bottom line and dividends to its investors. As such, BP, like any other impersonal corporation, will minimize expense while maximizing profit. And if that means stalling on paying claims for those harmed by their oil spill, they will continue to stall and make excuses until they can make it go away.
Also remember that Exxon didn’t go out of business after their Valdez disaster; and their costs for paying claims were ultimately mitigated in court actions.