David Vitter committee. In response to the April 2010 Deepwater Horizon oil spill at an offshore drilling rig in the Gulf of Mexico threatening the coast of Louisiana, Vitter introduced legislation along with Jeff Sessions of Alabama to increase the liability cap of an oil company from $75 million to its most recent annual profits (or $150 million if greater). In the case of BP, the owner of the oil lease, its liability would be $20 billion. Vitter later introduced an amendment that would remove the cap entirely for this particular spill. Competing Democratic proposals would have raised the liability to $10
Reactions to the Deepwater Horizon oil spill of one of the country's leading companies", to President Obama (text of letter) that expressed a concern over "double standards" compared to the sub-prime based banking crisis of 2007–2010 and over "prejudicial and personal" comments in the media. Initially BP downplayed the incident; CEO Tony Hayward called the amount of oil and dispersant "relatively tiny" in comparison with the "very big ocean." Hayward also initially stated that the environmental effect of the Gulf spill would likely be "very very modest." Later, he said that the spill was a disruption to Gulf Coast residents and himself adding, "You know, I'd like