BP is an evil doer...
Quote from AAAintheBeltway:
This is highly misleading, which is not surprising considering the source. The litigation in the Exxon case largely concerned punitive damages, which are designed not to compensate people for damages but to punish a wrongdoer. I am sure lawyers like O'Neill were frustrated at not being able to get their hands on a huge punitive damages award, but the Supreme Court ruled it was excessive. It had nothing to do with people being compensated for legitimate losses they actually suffered.
As for BP, their chances of relying on the liability cap are slim indeed. The law removes the cap if gross negligence is proved, and it is hard to see how BP was not grossly negligent. Apparently, their man on the scene countermanded the strongly put views of the drilling contractor and insisted on a risky procedure, resulting in the blowout. Their chances of invoking the liability cap are slim.