BP Attempts to Cut Future BP Claims Loses
BP gives marching orders to Feinberg regarding Future BP Claims
BP in a letter to Feinberg, is saying that Feinberg should not pay any BP claims for future loses because fisheries have reopened and the tourist season is back in full swing, as they cite hotel industry statistics, and news reports, reporting strong business backed by summertime tourism. The BP Claims process should not take into consideration future loses when factoring BP Claims. The remarks made by BP to Feinberg leave little doubt who is in charge of the BP Claims process. Just when you thought things could not get any worse at the GCCF, and their ability to treat BP Claims fairly
At the beginning of July, the GCCF had paid $4.5 billion in claims to 195,000 claimants. There are also about $430 million worth of offers that are under consideration by Gulf residents. Mind you that almost 600,000 BP Claims have been filed.
BP Claims Ploy or just Absolute Arrogance
Could this be just a ploy by BP to get people to accept the next batch of BP claims settlements. According to my calculations BP is about to pay the next round of BP Claims, remember they get founded with 1.2 Billion dollars every quarter. The last wave of claims we saw receive settlements was mid April, making mid July the next wave that should occur. When it occurs we will see a sudden jump in offers being made, many of these offers will be Interim Claims offers accompanied by Final Claim offers. The news seems to coincide with the next wave of BP Claims settlement offers, coincidence, I doubt it. BP and the GCCF have joint strategies and the biggest one is to settle the most amount of BP Claims, for the least amount of money, by BP telling the public that it wants to take future loses off the table, many people with valid BP Claims will be inclined to settle now.
The Arrogance of BP to even suggest that the Gulf Region is back to normal and exceeding pre spill numbers marks a new low in the BP Claims process. It is understandable that BP and the GCCF want people to believe that everything is alright after the Oil Spill, many business owners share the same sentiment. The fact however is everything is not all right, and according to various sources things could get a lot worse in time, neither BP or Gulf Coast Business owners want to hear this.
BP Claims and the lesson from Alaska: Herring and Brown Shrimp
I just spent a week with Johnathan and Andy Hillstrand of the Time Bandit from the show Deadliest Catch, they are two dear friends that were in town for the Suncoast Offshore. They were instrumental in helping me launch previous charity sites that helped 1000`s of people connect with charities directly after the BP Oil Spill. They are quick to point out that the fishery in Prince William sound seemed normal for the first several years, then dramatically dropped, never to return to normal 20+ years later. Current estimates have the Herring population at about 15% of the pre spill population. The latest indicators from the Gulf Fishery show a dramatic decline in the catch of brown shrimp, this has happened even faster then anticipated. The catch is down over 90% and fleets of shrimpers have halted fishing for them. This is the real truth, that many families are grappling with, as they try make a living in this once thriving industry, at the same time BP is putting everyone on notice that they don`t want to pay for future loses for BP Claims.
Time is needed for a more complete evaluation of the Health of the Gulf of Mexico, as we have learned from past oil spills, many of the effects from such a catastrophic oil spill won`t be known for years. For BP to make such sweeping statements that it will not be responsible for future losses incurred by Gulf residents at this early juncture, only furthers my belief that the true course is to move forward with BP Interim Claims only.