Murkowski, Oil Lobby Block Effort To Make Industry Fully Pay For Spills @lisamurkowski

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Sen. Lisa Murkowski (R-AK)

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Even in a Washington as dominated by corporate money as today's, it's not often that you see a lawmaker side with financial backers over the public interest as brazenly as Alaska's senior senator did yesterday.

In the wake of last month's catastrophic Gulf Coast oil spill, Sen. Lisa Murkowski blocked a bill that would have raised the maximum liability for oil companies after a spill from a paltry $75 million to $10 billion. The Republican lawmaker said the bill, introduced by Sen. Robert Menendez (D-NJ), would have unfairly hurt smaller oil companies by raising the costs of oil production. The legislation is "not where we need to be right now" she said.

Murkowski's move came just hours after Washington's top oil lobby, the American Petroleum Institute (API) expressed vociferous opposition to raising the cap. It argued that doing so would "threaten the viability of deep-water operations, significantly reduce U.S. domestic oil production and harm U.S. energy security." API's membership includes large oil companies like ExxonMobil and BP America, as well as smaller ones.

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