Does BP’s $2 billion fund truly amount to a “shake down” of its financial assets by the President as stated by GOP Rep. Joe Barton, or just a slap on the wrist? Isn’t it BP that should be apologizing to both Great Britain and the United States; while offering to make amends for lives lost during the initial disaster and creating the greatest man-made disaster in both US and British histories? Politically, if the US were to exercise its right of “Eminent Domain” it would lose socio-political and economic confluence with Britain; thus further endangering its relationship with Britain which could affect its military campaign in Afghanistan; yet if Britain were to acknowledge the US’s right of “Eminent Domain” over BP, it could result in a loss of international prestige for Britain and endanger her own economic recovery due to the rest of her oil companies reputations being tainted by BP’s screw-up. In order to move away from the political implications of Gulf Coast Disaster, it would be better to look at it in terms of one corporation vs. another.
Since BP’s quarterly cash flow is $7.5 billion; $42.5 billion less than what it owes the Gulf Coast biome for damages and loss of revenue, Those states affected by BP’s oil spill would not have to provide BP with “just compensation” as part of the “Due Process Clause” since BP’s lack of funding would cause it to be indebted to Gulf Coast biome for 6 times its actual worth. In a legal battle, BP could be held responsible for paying the Gulf Coast biome’s its estimated loss in revenue since BP’s oil spill resulted in its loss of revenue and physical damages; thus, those states within US territory directly affected by BP’s oil spill as acting managing conservators for the Gulf Coast biome would be able to sue BP for damages and loss of revenue even if those damages can only be paid through surrendering BP’s assets to the Gulf Coast biome’s consumers who are also its managing conservators – the citizens of the united states. It is this situation that sets the socio-economic, political and moral frame work for our government to exercise “Right of Eminent Domain” over BP. However, who has the right of “Eminent Domain” and how does this affect the ruling by US District Court Judge Martin Feldman. 1) only the legislative branch of government has the ability to exercise right of “Eminent Domain”; 2) only the Supreme Court can make binding legal decisions, this would mean that by turning to the legislative branch of government the Obama administration would be able to over-turn Judge Feldman’s decision in a court of law and bring about a binding legal decision concerning the BP oil spill which would directly affect the Gulf Coast for generations if both were forced to make their appeal to the Supreme Court. Many believe that Judge Feldman based his decision upon his personal financial interests.