Senate Dems urge BP to set up $20 billion account for oil spill

Senate Democrats urged BP to set up a $20 billion independent account to pay for the economic and environmental damages from the Gulf oil spill.

In a letter to BP chief executive Tony Hayward, Democrats said the establishment of such an account would be an "act of good faith" and responsibility.


"Although creating this account at this level in no way limits BP's liability, we believe it will do more to improve BP's public image than the costly public relations campaign your company has launched," the senators wrote in a letter dated June 10 and released by Senate Majority Leader Harry ReidHarry ReidDems see surge of new candidates Dems to grind Senate to a halt over ObamaCare repeal fight GOP fires opening attack on Dem reportedly running for Heller's Senate seat MORE's (D-Nev.) office on Sunday. The lawmakers asked for a response by June 18.

David Axelrod, senior White House adviser, said Sunday that President Barack ObamaBarack ObamaOvernight Cybersecurity: Trump tweetstorm on Russia probe | White House reportedly pushing to weaken sanctions bill | Podesta to testify before House Intel OPINION: Trump’s bluff: Perfectly legal Overnight Regulation: Senate Banking panel huddles with regulators on bank relief | FCC proposes 2M fine on robocaller | Yellowstone grizzly loses endangered protection MORE wants the company to set up an independently administered escrow account to deal with compensation claims.

The letter is signed by 54 Senate Democrats.