Gulf Oil Spill Fund to Speed Up Compensation Payments
"Over the past few weeks, I have heard from the people of the Gulf, elected officials, and others that payments remain too slow and not generous enough," Feinberg said in a statement. "I am implementing new procedures that will make this program more efficient, more accelerated and more generous."
BP is powerless to step up the pace of the payment of claims. It may rue the day it passed that authority, under pressure, to the U.S. government. Every claim that's paid in full involves an agreement not to sue BP, so the longer the process takes, the greater the risk to BP.