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BP Tells Congress Drilling Moratorium Could Affect Spill Payouts

Posted Sep 3, 2010 8:54 AM CDT
By Debra Cassens Weiss

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BP has warned Congress that it could have trouble funding its $20 billion oil spill compensation program if an offshore drilling moratorium is imposed.

BP says a ban could affect both its restoration efforts and compensation programs, the New York Times reports. David Nagle, BP’s executive vice president for BP America, told the Times that a moratorium would have “a substantial impact on our cash flow,” making it “harder for us to fund things, fund these programs.”

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