API: Bill to raise liability cap would affect smaller Gulf producers:

05/16/2010 | Oil & Gas Journal

Independent producers will be forced from the Gulf of Mexico should the U.S. Senate move to raise the oil-spill liability cap from $75 million to $10 billion, the American Petroleum Institute said. Abrupt changes could make insurance for oil and gas activities there affordable to only the largest companies, API President and CEO Jack Gerard said.

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