U.S. Senator Russ Feingold: Ending the Cozy Relationship with Big Oil

U.S. Senator Russ Feingold: Ending the Cozy Relationship with Big Oil: "One of the first things Congress should do is eliminate the liability cap for economic damage caused by oil spills. With businesses in the Gulf facing lost revenues from tourism and fishing, it is painfully clear that this liability cap is far too low. The existing $75 million liability cap is less than one day's worth of profits for BP. I support legislation to eliminate the liability cap."

The cap should be increased but not retroactively.