Secret Squirrel On The BP Oil Rig Oil Spill

Secret Squirrel has detected political doublespeak in Obama's doublethink statement that the BP oil company will pay in the entirety for the clean up of it's massive record breaking oil spill,creating an ecological disaster far worse than that of the Exxon Valdez but who actually pays the cost of oil companies for gas,for foreign and
domestic companies?You do! What will BP,a foreign oil company operating in America, do, to price of their gas to pay for cleanup? They'll pass it on to you at the pumps.Does that matter? Well, no,BP is foreign and there are other domestic and foreign oil companies supplying gas to Americans. Now will other companies keep their price set to grab a great market share as the system is supposed to work? No, they'll raise their price as well,and strangely, as it has been seen before, the increases will balance to the other companies increasing the price of
gas supplied to you at the pumps etc.....to get more that way.In short there is a form of price fixing in effect,isn't there then, not really a free market system of supply and demand and competition to keep prices down.At the pumps you will pay for this.

But,you will pay yet more.Recall now, the Exxon Valdez spill was said to cost in the area 2.1 billion dollars......So under current law,as they were adjusted after the Exxon Valdez, an offshore rig operator is liable for up to $75 million in damages.Now what.......so BP chips in $75 million.

After that, the federal government picks up the tab, using an oil spill liability trust fund that's paid for by a tiny tax on oil (amounting to one-tenth of 1 percent of the price),this trust fund can kick in another $1 billion. But the estimated economic cost of this disaster (when you include damages to fisheries, lost tax revenue, and the like) is somewhere between $10 billion to the increased estimate of 14 billion(in the best-case scenario) and on to infinity,till we get the final tally.Hey Mr. Tallyman,tally me bananas,because, we, the taxpayers, are going to be
paying for the difference through lots of new deficit spending,in short the US government will be spending and paying for this foreign oil company's massive oil spill.

One way to fix this situation: Raise the cap on the oil company's liability so that a catastrophe like this bankrupts them instead of us.Cost of the cleanup estimated to be 14 billion by now,in actuality...............so,now, run this all past me again.

The cleanup will cost 14 billion, the oil company will pay 75million, the government fund will pay 1 billion, so then, who pays the other billions,the oil company who pays for everything,pays 75million, or am I getting it all wrong?