If BP can, why cant Dow or Chevron?

Last week, US President Barrack Obama succeeded in getting the oil company BP to set aside at least US$20 billion in a fund to meet claims for losses arising from the Gulf of Mexico oil spill. It is both interesting and heartening that a government is able to pressure a big company to agree upfront to compensate for the damage it is causing. The funds will be used to meet claims for economic losses of local people in the Gulf Coast states for loss of income (for example - from reduced fishing or tourism) and to pay the cost of environmental clean up. Another $100 million fund will be set up to pay workers laid off due to suspension of offshore drilling. BP will also suspend paying dividends so that there is enough cash for the new funds.Both agreed to this package because of the growing public anger at the negligience of BP and the governments lack of regulatory actions, as well as that after two months the oil is still gushing from the broken BP oil installation.It has been described as the worst US …