The latest version of the CLEAR Act is slated for a floor vote in the House this week as Democrats look for ways to use the Gulf oil spill as a means to pass elements of their unpopular energy agenda.
House Speaker Nancy Pelosi (D-Calif.) stripped out authorization for an independent investigation into the Gulf disaster.
“Goldman Sachs wasn’t alone either in its astute “foreknowledge” of the collapse of BP’s stock value due to the Gulf disaster as BP’s own chief executive, Tony Hayward, sold about one-third of his shares weeks before this catastrophe began unfolding too.
But according to this FSB report the largest seller of BP stock in the weeks before this disaster occurred was the American investment company known as Vanguard who through two of their financial arms (Vanguard Windsor II Investor and Vanguard Windsor Investor) unloaded over 1.5 million shares of BP stock saving their investors hundreds of millions of dollars, chief among them President Obama.
Did any of you know that the US supposedly has a National Contingency Plan for dealing with very large oil spills? And that EPA has legal responsibility for maintaining readiness for such an eventuality? Who knew? I’ve watched hours of coverage and this hasn’t been mentioned anywhere.
The National Oil and Hazardous Substances Contingency Plan Act was signed into law in 1994 (superceding previous legislation that went back to the 1969 Torrey Canyon oil spill.) Laws and regulations are collated here. The EPA has an online book describing the National Continency Plan. See for example http://www.epa.gov/oem/docs/oil/edu/oilspill_book/chap7.pdf (change the number to get other chapters.)
The EPA manual says: