20 Billion=A Good Start

Several times today I was told, overheard, or read the suggestion that the $20 Billion that BP has agreed to place in escrow will be the limit of their liabilities. No. It is only the start of what may be as much as $100 Billion.

From the BP press release:

The fund will be available to satisfy legitimate claims including natural resource damages and state and local response costs. Fines and penalties will be excluded from the fund and paid separately.

$20 Billion is a drop in the bucket…