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Detailed text transcripts for TV channel - FOXNEWS - 20100614:23:06:00

Will foot the bill. according to bp that bill has already risen to $1.6 billion. team fox coverage continues with senior white house correspondent major garrett live in theodore, alabama. the administration, major, has been haggling with bp over an escrow fund to pay claims. you asked the president about that today. what did he say? he said there is progress and negotiations. bp s board is meeting right now today, jon, to decide the fate of a 10 billion-dollar quarterly dividend that they could hand out to shareholders. but bp is under enormous political pressure here in the united states to not do that to put that 10 billion, possibly as much as $20 billion in an escrow fund to pay what is clearly going to be a staggering sum of economic and environmental damages. that pressure coming from the obama administration. a 4 senators signed a letter to bp yesterday asking for 20 billion-dollar fund to be set aside. at the end of his remarks here at theodore, alabama, i asked the president ....

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Detailed text transcripts for TV channel - CNN - 20100614:21:28:00

reporter: the first thing to keep in mind is first there was a letter that went out and all but four democratic senators sent this letter to the ceo of bp demanding $20 billion. that s the number they re ta talking about to be put into escrow to be paid for future claims and cleanup. they want not bp controlling the fund but as you mentioned a third, independent party. in the letter they also say the full extent of the damage may not be known for months or even years. president obama is also behind the effort to set up this escrow fund and the white house spokesman bill burton said today that they are confident that bp will comply with the request but the details are still being discussed. this is really key here. including exactly how much money will be put in the fund. because keep in mind bp as of the end of march had only about $7 billion in cash on hand. that s according to its most recent financial statement. wolf? are bp shareholders still likely to get that little ....

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Detailed text transcripts for TV channel - FOXNEWS - 20100614:20:45:00

For us to say hey, we re going to charge you up front, put the money in escrow and don t make that money, forget it. no one will believe it. bp will charge more for crude oil and send it to refiners, whether bp or shell or an independent refiner. the refiner has to jack up the price. same way, give it to the distributor and the gas station. what if the other guys don t have to go along. bp is as a dis advantage and they re not paying through the nose. i would say good-bye, gulf of mexico, i m going to brazil. i hear that and i don t believe it s far off. not at all. why would you say i have to put $20 billion billion, not a few cents a gallon, we re talking $20 billion. real money after a while. why would you say i m going to do that so i can continue to produce oil in the gulf and by the way, once i produce it, it s ....

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Detailed text transcripts for TV channel - MSNBC - 20100614:20:01:00

Starts getting closer to shore? there are a range of issues having to do with communication. couldn t all this have started seven weeks ago? the president meeting with them this week at the white house. the president demands the oil giant create a multi-billion dollar fund to handle any potential disaster claims. no exact dollar amount from the white house, but the senate is asking for at least $20 billion in escrow. meanwhile, bp stock continues to crater. down another 10% today. there s no question that this is a growing economic disaster from obvious tar covered coastlines to beaches still untouched by oil but unpopulated by people because of the spill driving away tourists. commercial fishing expected to take a $204 million hit. that would be $90,000 per business. recreational fishing and sightseeing, $8.5 million. and florida, which has deliberately stayed out of the offshore drilling game to focus on tourism and beaches, well, ....

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Detailed text transcripts for TV channel - MSNBC - 20100614:15:05:00

What you are seeing today with the fact finding trip and moments where you can show and demonstrate control ask talk about the response so far and following on from the address, the meeting with bp executives, it s all a bigger plan to demonstrate that this president does have the control and connection which so many of the critics both in the region and nationally in the media have been saying he hasn t demonstrated so far. we have some questions about how to approach this. we want to talk about that and talk about the steps we will take to deal with it. in addition to the message and how to deal with it, our first point that the president wants to put bp s feet to the fire in terms of escrow, money to pay back the business owners who are losing so much as we ....

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