Senators call on BP to set up $20B special account

[June 14, 2010]  WASHINGTON (AP) -- Democratic senators want BP to set aside $20 billion to pay for cleanup and other costs from the Gulf oil spill.

Senate Majority Leader Harry Reid, D-Nev., plans to send BP a letter on Monday proposing the account. That's two days before BP executives meet with President Barack Obama and three days before chief executive Tony Hayward testifies at a House hearing.

A copy of the letter was released Sunday by Reid's office.

BP has promised to pay for damages. But Obama also wants BP to create a special escrow account, though he hasn't suggested an initial amount.

[Associated Press]

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