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BusiesT casino gambling day -- in Las Vegas Status: Not Logged In; Sign In United States News See other United States News Articles Title: Committee: BP has paid less than 12% of claims Source: Associated Press URL Source: http://hosted.ap.org/dynamic/storie ... AULT&CTIME=2010-06-18-13-32-33 Published: Jun 18, 2010 Author: Associated Press Post Date: 2010-06-18 13:36:19 by Brian S Keywords: None Views: 451 Comments: 19 WASHINGTON (AP) -- The House Judiciary Committee says data it has collected shows that BP has paid less than 12 percent of claims submitted by people and businesses arising from the Gulf oil spill. The committee said in a statement Friday that only $71 million out of an estimated $600 million had been paid as of Tuesday. In addition, the panel said that BP didn't make any payments in the first two weeks following the explosion and oil spill. Michigan Democratic Rep. John Conyers said he's concerned that BP "is stiffing too many victims and shortchanging others." The committee said BP hasn't made a single payment for bodily injury or diminished home property value. BP officials did not immediately respond to a request for comment. Post Comment   Private Reply   Ignore Thread   Top • Page Up • Full Thread • Page Down • Bottom/Latest Begin Trace Mode for Comment # 19. #2. To: Brian S (#0) Whats the average time from when the claims were filed through today? Seems to be a lot of money, 71 million, given the most the delay could be is what? Four to six weeks? How's that compare to the 9/11 funds handed out? Badeye  posted on  2010-06-18   13:57:19 ET  Reply   Untrace   Trace   Private Reply   #3. To: Badeye (#2) , given the most the delay could be is what? Four to six weeks? How's that compare to the 9/11 funds handed out? Uh didn't they have to prove that those receiving 9/11 compensation were actually in or involved in the towers? Since the ones most directly affected were unable to personally testify or submit claims, that might have led to a 'slightly longer' delay. mininggold  posted on  2010-06-18   14:13:29 ET  Reply   Untrace   Trace   Private Reply   #4. To: mininggold (#3) , given the most the delay could be is what? Four to six weeks? How's that compare to the 9/11 funds handed out? Uh didn't they have to prove that those receiving 9/11 compensation were actually in or involved in the towers? Since the ones most directly affected were unable to personally testify or submit claims, that might have led to a 'slightly longer' delay. I'm aware of the 9/11 issues. I'm just wondering how long its taking for the 'average claim' to be paid by BP. Right now, it doesn't seem extrodinary given the circumstances. You still have to verify the validity of the claim being made. A month to six weeks doesn't seem very long under these circumstances, given the dollar amounts and given the number of claims which have to be in the tens of thousands and growing each and every day. I'm not defending BP here, just asking. Badeye  posted on  2010-06-18   14:17:00 ET  Reply   Untrace   Trace   Private Reply   #5. To: Badeye (#4) Property tax and ownership grants of deeds records are already in place. That should speed things along. mininggold  posted on  2010-06-18   14:30:01 ET  Reply   Untrace   Trace   Private Reply   #6. To: mininggold (#5) Property tax and ownership grants of deeds records are already in place. That should speed things along. I would think so. Badeye  posted on  2010-06-18   15:08:43 ET  Reply   Untrace   Trace   Private Reply   #7. To: Badeye, All (#6) Matt Simmons: 'BP is out of money by the end of Summer.' The bidding on damages starts at a Trillion Dollars. mcgowanjm  posted on  2010-06-19   21:34:14 ET  Reply   Untrace   Trace   Private Reply   #8. To: mcgowanjm (#7) I've seen a few estimates the past 24 to 48 hours. They have an estimated one trillion in oil stockpiled currently. Seems counter productive to make comments from the government (either party) that drives the stock lower. Badeye  posted on  2010-06-20   1:09:15 ET  Reply   Untrace   Trace   Private Reply   #9. To: Badeye (#8) (Edited) I've seen a few estimates the past 24 to 48 hours. They have an estimated one trillion in oil stockpiled currently. Seems counter productive to make comments from the government (either party) that drives the stock lower. If you mean 'reserves'for 'oil stockpiled currently' and British petroleum is the one 'stockpiling', then bp is lying and has since at least 1988. Bp says the world has 1.331 Trillion bbls. Actual 850 billion. OF which, maybe 450 billion will get pumped. Bp itself, Jun 15, 2010 ... According to estimates from bond rating agency Moody's, BP has total proven reserves of roughly 18 billion barrels of oil in the ground, ... So you can cut that to say 13.5 billion. Maybe. Of which maybe 7.5 billion gets pumped. And the good news here is that bp has been lying about the Macondo Reserves as Thunderhorse Field right against the Macondo was also thought to be a bonanza and a year after production started, the water cut is up to 30% to keep the oil flowing. mcgowanjm  posted on  2010-06-20   9:19:41 ET  Reply   Untrace   Trace   Private Reply   #10. To: mcgowanjm (#9) Sorry, should have been more clear. 1 trillion WORTH of oil stockpiled. Around 18,000 barrels. Not a trillion barrels. Badeye  posted on  2010-06-20   10:34:39 ET  Reply   Untrace   Trace   Private Reply   #11. To: Badeye (#10) Yes, Obama's an Uncle Tom. Worse than a White Republican because of the shoulders he stood on to get where he is today. And the Lifting of the Offshore Drilling Ban just weeks before is his epitaph. Sen Shelby Alabama: "He ought to have that yacht down here skimming for oil," said Shelby. The Imperial City along with the Non Small People are just totally disconnected from reality. mcgowanjm  posted on  2010-06-20   12:19:55 ET  Reply   Untrace   Trace   Private Reply   #12. To: mcgowanjm (#11) I don't need to bring race into the discussion. That said, its amusing he 'declared war' on a oil spill, compared it to 9/11....then went off to play golf again. Badeye  posted on  2010-06-20   12:36:26 ET  Reply   Untrace   Trace   Private Reply   #18. To: Badeye (#12) That said, its amusing he 'declared war' on a oil spill, compared it to 9/11....then went off to play golf again. Race is not in the discussion. Obama's acting like bush43. And I could only wish that Obama and the US gov't was treating America's Chernobyl as we did 911. Since Katrina I've said that CentCom and all forces from Iraq/afghanistan need to be on the NOGC. mcgowanjm  posted on  2010-06-21   9:41:32 ET  Reply   Untrace   Trace   Private Reply   #19. To: mcgowanjm (#18) Yes, Obama's an Uncle Tom. Worse than a White Republican because of the shoulders he stood on to get where he is today. Badeye  posted on  2010-06-21   9:44:22 ET  Reply   Untrace   Trace   Private Reply   Replies to Comment # 19.         There are no replies to Comment # 19. End Trace Mode for Comment # 19. Top • Page Up • Full Thread • Page Down • Bottom/Latest

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