API criticizes lawmakers' spill-response plans

07/28/2010 | Hill, The

The American Petroleum Institute said a House of Representatives oil-spill-response package, which includes a provision that retroactively removes oil-liability caps, would threaten jobs and stifle economic growth. "We believe what comes out of the discussions on the oil spill should be directly related to the oil spill," said API President and CEO Jack Gerard. The proposal would also "effectively push out small and midsized producers" who cannot afford individual insurance for offshore ventures, Gerard added.

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Hill, The

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