Law may reduce BP's damages in Gulf oil spill:

05/3/2010 | Washington Post, The

Taxpayers may have to shoulder a portion of BP's liabilities in the Gulf Coast oil spill, including lost wages and economic suffering, under a federal law. A law approved following the Exxon Valdez spill in 1989 makes BP responsible for cleanup expenses, but it establishes a $75 million cap on other damages. Losses to the Gulf are projected to exceed that.

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