COMMITTEE ON NATURAL RESOURCES
1324 Longworth House Office Building
Thursday, October 27, 2011
9:30 a.m.

• Official hearing transcript

OVERSIGHT HEARING ON:

• "Gulf Coast Recovery: President Obama’s BP Compensation Fund, How Is It Working?"

OPENING STATEMENT:

The Honorable Doc Hastings
Chairman

WITNESSES AND TESTIMONY:

Panel I

Kenneth R. Feinberg
Gulf Coast Claims Facility Administrator
(Truth in Testimony Form)

BACKGROUND:

This hearing will focus on the design, implementation, and independent administration of the $20 billion escrow fund created by BP in partnership with the White House to provide payment or settlement of claims for costs and damages incurred as a result of the Deepwater Horizon spill. The Fund was created as an independent body, not through an act of Congress or executive order, and therefore is not held accountable to the Administration or Congressional oversight. Hardworking people and small businesses of the Gulf with legitimate claims deserve to receive compensation for damages in a timely, efficient and effective manner.