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Who gave the President that power?

June 22, 2010

President Obama asked demanded that BP put $20 billion into a fund to pay future damage claims from the oil spill.

My first thought upon hearing this was “who gave him the power to do that?”  No one.  He doesn’t have the power to make BP pay any amount of money.  They will have to pay damages but those will be decided through settlements or arbitration or the courts.  The Executive branch of the federal government can’t just demand that a company pay billions of dollars.

Briefly I thought that maybe I had misunderstood.  No such luck.

Thomas Sowell, in Investor’s Business Daily, writes about this fund.  He describes it as an abuse of power by Obama.  Read the whole article at the link; it’s well worth your time.

(And thanks to crazybengal for sending the link to me!)

One Comment leave one →
  1. Nick permalink
    June 25, 2010 12:20 am

    An interesting article which details the many different companies/agencies involved in exploring that tract in the Gulf of Mexico.

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