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
Deepwater Horizon oil spill 318,000 Louisiana residents (17% of all jobs in the state). NOAA had closed , or approximately 36% of Federal waters in the Gulf of Mexico, for commercial fishing causing $2.5 billion cost for the fishing industry. The U.S. Travel Association estimated that the economic impact of the oil spill on tourism across the Gulf Coast over a three-year period could exceed approximately $23 billion, in a region that supports over 400,000 travel industry jobs generating $34 billion in revenue annually. On 30 April 2010, President Barack Obama ordered the federal government to hold the issuing of new offshore drilling leases