$20 billion will be set aside by BP to cover claims by victims of the oil spill. Obama's "Pay Czar," Kenneth Feinberg - who also handled payouts to the families of 9/11 victims - will be handling the funds.
BP might not be the only one having to pay, however. People are looking at Transocean Ltd. - who owned a majority interest in the rig, and Anadarko Petroleum - who owns a 25% non-operating interest in the well.
A paragraph here worth emphasizing:
"Obama’s forceful tone about BP’s behavior shows how far matters have deteriorated. The White House once had described BP as an essential partner in plugging the crude oil spewing from the broken well beneath nearly a mile of water. Now Obama says BP has threatened to destroy a whole way of life."
Full article here (New Haven Register)