"President Obama put his weight today behind legislative efforts to lift liability caps for oil spills.
The administration is sending a wide-ranging spill-response package to Capitol Hill that includes raising the $75 million cap on economic damages. It would also seek to accelerate assistance to people left unemployed by the spill, expand eligibility for food stamps and raise an 8-cent-per-barrel oil tax by 1 cent.
The cap on natural resource damages would be raised from $500 million to $750 million. Some lawmakers have said the cap on economic damages, such as lost wages or canceled hotel bookings, should be raised to $10 billion. But the administration did not offer its recommendation as to what the cap should be."
Source: Greenwire, 05/13/2010
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