New legislation to ensure oil companies are held accountable for economic damages from spills (Washington, DC)

As the Gulf Coast braces for the environmental and economic damage that the massive oil spill in April, Senator Menendez along with Senators Frank Lautenberg (D-NJ) and Bill Nelson (D-FL), discuss legislation introduced to ensure that oil companies are not allowed off the hook when it comes to paying for economic damages as a result of spills. Menendez’s Big Oil Bailout Prevention Act would raise the liability cap from $75 million to $10 billion.