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Obama: BP Will Fund Escrow to Pay Claims

'Substantial' sum will be run by 3rd party, expedite claims

(Newser) - President Obama will demand that BP create a special account with "substantial" reserves to pay Gulf oil claims and will take other steps aimed at aiding the region, David Axelrod said today. Coast Guard Adm. Thad Allen told Face The Nation that an outside contractor will run the account... More »

BP to Delay Dividend to Appease Obama

Money will be put in escrow until full cost of Gulf cleanup is clear

(Newser) - BP plans to defer its dividend in an effort to get the Obama administration off of its back, sources tell the Times of London. The money, which is expected to total about $2.5 billion, will be placed in an escrow account until the full cost of the Gulf disaster... More »

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