BP's $20 billion victims' fund will be paid for by U.S. oil production. WSJ stated:
The (White House) agreement does specify that the fund may be backed by BP's U.S. production wells. The pact says BP may also use other property as collateral so long as the Obama administration agrees to it.
BP gave $3 billion to start, promising $5 billion a year. The U.S. has incentive to keep BP producing in the Gulf of Mexico, their cash cow zone.
The Gulf is home to about 25 of the 40 production projects BP plans by 2015.
WilmerHale's Jamie Gorelick is good. BP won on unemployed oil workers. They look to have the upper hand on future U.S. production. How about animal carcass testing, counting and destruction? The slow leak of details indicates Gorelick may have hit the trifecta for BP. Next up, refuting charges of gross negligence.
Will she get two checks for her hard work, one for her role as BP attorney and the other for her staunch support as a member of BPAmerica's External Advisory Council?
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