Page 2 - Liability Cap News Today : Breaking News, Live Updates & Top Stories | Vimarsana

A beautiful shot of the white house this morning where the president is home alone on his 49th birthday. happy birthday, mr. president. michelle obama and their daughter are overseas heading to spain for a vacation there. sot president is going up to chicago and spend the day there on his birthday and do some fund-raisers and a lot of news this morning about the gulf crisis. despite public anger over the gulf crisis an energy bill that would have removed $75 million liability cap on energy companies like bp has been shelveed into the senate. senate majority leader harry reid decided to skip ...

Up and get out of town once the well is capped, even though the company's ceo insists they are in it for the long hall. check out this picture just yesterday. scientists say they're seeing very little oil on the water's surface. louisiana locals say this picture is proof there's still a lot of work to be done. former bp ceo tony hayward is defending himself. >> i became a villain for doing the right thing, but i understand that people find it easier to vilify an individual more than a company. this weekend bp could start pumping mud and cement into the well. the static kill is supposed to ma...

Apply. in this instance, it doesn't apply. bp is on the hook for everything. and, so, what you do with removing the cap entirely is you mean that there is only about four companies that can lease out there. right now independent oil companies, which will be driven out by the lack of a liability cap, do about 90% of the leasing. they create about 300,000 jobs, so this bill is full of great words. it's full of bad effect. >> in fact, supporters of this bill say that they're not surprised that you aren't supporting it because three of your top five contributors are companies that deal with the oi...

Too far. joining me now, congressman bill cassidy, republican from louisiana. thanks very much for joining us, congressman. as we said, the house bill eliminates $75 million in a liability cap. it sets new safety standards and puts money towards a gulf restoration. so why are you against it? >> couple things. let's work backwards. it does not put money towards gulf restoration. it says we should do this but the tax and levees that puts upon oil produced domestically. by the way, $2 a barrel and it does not place it upon foreign oil, so it's a reverse tariff, if you will. it doesn't go for the ...

He intends to revisit, but it is not just something they could get done before the election. >> cap and trade is almost like the curse words to say it. cap and trade. >> you can be sure if they revisit it, it will be called something else. i can assure you of that. >> and how about the republicans? >> well, i talked to a aide who is not particularly happy about the timing of the legislation and saying that there is no way to get anything passed by september. it was a press release and a check the box exercise, and by the way, it is not completely noncontroversial, because you mentioned lifting...