MarketWatch
June 17, 2010, 10:41 a.m. EDT
By Steve Gelsi
"NEW YORK (MarketWatch) -- Members of a House Energy subcommittee on Wednesday sparred over the $20 billion escrow fund that BP PLC (BP 31.96, +0.11, +0.35%) agreed to set up for victims of the Deepwater Horizon oil spill. Joe Barton, R., Texas, said the fund amounted to a "shake-down" of BP that has no legal standing and sets a "terrible precedent" for the future."
From the Office of Congressman Joe Barton website:
"A proponent of competition, Barton is additionally responsible for both the first electricity deregulation legislation to pass a House subcommittee, and for legislation which deregulated the natural gas industry. "...
...He returned to Texas in 1982 as a natural gas decontrol consultant for Atlantic Richfield Oil and Gas Company before being elected to Congress."...
...And... "In order to achieve these goals, I was a primary author of H.R. 6, the Energy Policy Act of 2005. The President signed this bill into law in August of 2005."
Links to the Energy Policy Act of 2005:
http://www.epa.gov/oust/fedlaws/publ_109-058.pdf
http://en.wikipedia.org/wiki/Energy_Policy_Act_of_2005
June 17, 2010, 10:41 a.m. EDT
By Steve Gelsi
"NEW YORK (MarketWatch) -- Members of a House Energy subcommittee on Wednesday sparred over the $20 billion escrow fund that BP PLC (BP 31.96, +0.11, +0.35%) agreed to set up for victims of the Deepwater Horizon oil spill. Joe Barton, R., Texas, said the fund amounted to a "shake-down" of BP that has no legal standing and sets a "terrible precedent" for the future."
From the Office of Congressman Joe Barton website:
"A proponent of competition, Barton is additionally responsible for both the first electricity deregulation legislation to pass a House subcommittee, and for legislation which deregulated the natural gas industry. "...
...He returned to Texas in 1982 as a natural gas decontrol consultant for Atlantic Richfield Oil and Gas Company before being elected to Congress."...
...And... "In order to achieve these goals, I was a primary author of H.R. 6, the Energy Policy Act of 2005. The President signed this bill into law in August of 2005."
Links to the Energy Policy Act of 2005:
http://www.epa.gov/oust/fedlaws/publ_109-058.pdf
http://en.wikipedia.org/wiki/Energy_Policy_Act_of_2005
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