In another part of the BP public relations plan, Ken Feinberg now says the Gulf of Mexico will recover from the massive oil spill by the end of 2012. He claims by that time most of the harmful effect of the worst offshore oil spill in U.S. history will have dissipated and the economy will be much improved. This is just another public relations ploy designed to mislead folks. On the basis of Feinberg’s estimate, the GCCF plans to make final payments of twice the documented 2010 damages minus payments already made through the fund. As football expert Lee Corso says, “Not so fast my friend!” It might be interesting to see where Feinberg is getting this information – could it be from BP or a source friendly to BP? He says it comes from reliable sources, but based on his past performance on the Gulf, anything this man says has to be suspect. As a result of what we have seen and heard from folks on the coast, it is hard to believe that the Gulf will have recovered by the end of next year.
It’s no secret that millions of gallons of oil poured into the Gulf between last April and July, damaging the fragile wetlands of Louisiana, washing ashore in Alabama, Mississippi and Florida, and hitting coastal industries including fishing and tourism. Tremendous damage – both short and long-term – was done. Most Gulf coast residents believe the compensation fund has short-changed them and favored BP’s interests over their own. They also believe, and rightfully so, that BP is attempting to get out of its public commitment to “make this right” for spill victims.
Source: Insurance Journal
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