BP: Oil spill claims methodology too generous

BP: Oil spill claims methodology too generous

NEW ORLEANS — The administrator of the $20 billion fund for Gulf oil spill victims, under fire for a claims process beset by red tape and delay, has been told by BP that his methodology for final payments is actually too generous.

A lengthy document purporting to be from a major business has been posted on the Gulf Coast Claims Facility’s website. The name of the business and other references to the business have been removed from the document, but Feinberg’s spokesperson has confirmed that BP authored the document.

The document says Kenneth Feinberg’s methodology artificially inflates future expected losses for victims of the oil spill.

AP
2/17/11