Developing countries should be able to adopt a 'polluter pays' principle for ecological disasters – just like the US has with BP
The $20bn fund that Barack Obama managed to get BP to agree to set up to meet claims for economic losses and environmental costs from the Gulf of Mexico oil spill is impressive, especially since the amount can be increased. The political pressure so evident also caused BP to temporarily suspend paying dividends. This should set a precedence for how host countries of multinationals take stern action, and executives of multinationals respond to meet their responsibilities – even if only partially.
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