GRIFFIN TO ARKANSAS TIMES: BP RESPONSIBLE FOR OIL DISASTER, MUST BEAR 'ENTIRE FINANCIAL BURDEN'

Note: On Friday, Tim Griffin, through his spokesman, told the Arkansas Times blog that BP is responsible for ALL costs associated with the oil disaster in the Gulf of Mexico. Griffin also added that he believes the current liability cap should be increased.

The following is an excerpt from Friday's Arkansas Times blog:



Do GOP candidates back BP? UPDATES
Posted by Max Brantley on Fri, Jun 11, 2010 at 9:51 AM

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Today, the DCCC wants to hear from Republican congressional candidates Tim Griffin (an admirer of Boeher who's running in the 2nd District) and from Rick Crawford (1st District) on what American taxpayers and the tens of thousands damaged along the coast should demand from BP.

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Said Tim Griffin through a spokesman:

Tim believes it’s common sense: BP — not the American taxpayer — is responsible for the disaster in the Gulf and must bear the entire financial burden to clean it up (emphasis added)

I've followed up with Griffin on the liability cap. And here's the interesting UPDATE:

“I believe that, in this case, the liability cap is most likely a moot issue because BP will pay all applicable costs regardless of the statutory limit. The idea of a liability cap is a good one because it encourages investment and competition, which leads to innovation and job creation. Without it, only the very largest companies can compete, and highly successful smaller companies will be forced from the market. The current liability cap is 20 years old and should be increased, especially in light of the disaster in the Gulf"

Read the full story here.