Top executives of beleaguered oil giant BP arrived
Wednesday morning at the White House, where they are expected to get an
earful about their efforts to deal with the massive oil leak from their
well in the
Led by Chairman
During his fourth trip to the gulf region earlier
this week, Obama said he was hopeful the parties would announce an
agreement on how to handle claims stemming from the spill that since
late April has poured millions of barrels of oil into the waters.
Obama is scheduled to make a statement on the results of their talks at
The key questions on claims revolve around
establishing an escrow account that the White House wants to be run
independently of BP. That account, to be financed by the oil company,
would be used to pay claims stemming from the disaster.
Democrats in Congress want BP to set aside as much as
or almost two years of dividends, for the fund. The company has said it
wants to handle the cost of the claims from revenues it receives,
though it has sent signals that it might establish a separate fund as a
standby.
Obama in his national address was emphatic that BP would be responsible for all costs but did not mention a dollar amount.
Also in dispute is how far BP should be responsible.
For example, the White House wants the company to pay for oil workers
now unemployed because of a moratorium on offshore drilling. The
company is seeking a narrower definition, though it has said it will
pay all legitimate claims.
“We believe we have the authority to compel” creation of a compensation fund administered by a third party, White House adviser
“There’ll be no upward cap there. If they owe more
money, they’ll have to pay more money,” Axelrod said. “This is not a
get-out-of-the-situation-free card.”
According to the White House, the president will be joined by Vice President
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