Pulling the receipt…
Pulling the receipt…
MEBRO
06/18/26 · 11:40 PM UTC · 11 SOURCES
“Barack Obama demanded a company hand over $20 billion to one of his political appointees.”
HIGH CONFIDENCE
TL;DR ·Obama demanded BP pay $20 billion into a fund managed by an administration-appointed official.
In June 2010, following the Deepwater Horizon oil spill, President Barack Obama demanded that BP establish a $20 billion escrow account to pay for financial damages and cleanup costs . Obama publicly pushed BP executives to take responsibility for the disaster, stating that the company would be held on the hook for costs and claims . The administration selected Kenneth Feinberg to lead the Gulf Coast Claims Facility and manage the $20 billion fund . While the fund was designated for victims, Feinberg was a prominent administration figure, previously serving as the Obama administration's 'Pay Czar' for executive compensation . Some critics at the time described the demand as a tactical error that shifted the burden of managing claims from BP to the federal government .
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