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Current DateTime: 02:21:50 23 Feb 2012
LinksList Documentid: 28796340

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Should BP Be Barred From Future Federal Contracts or Oil Leases?

Published: Friday, 28 May 2010 | 1:57 PM ET
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Given the recent Gulf oil spill and the company's response, we asked The Kudlow Caucus, should BP [BP  Loading...      ()   ] be barred from future federal contracts or oil leases?

Take our poll below and tell us what you think! Watch "The Kudlow Report" tonight at 7pm ET and find out what out caucus members have to say or check back here later for a summary from our caucus members.

Click here for CNBC's full coverage of "Crisis in the Gulf."




The Kudlow Caucus Breakdown

Jerry Bowyer

Yes
Jerry Bowyer
Chief Economist, Benchmark Financial Network
Not mainly because of the screw up in the Gulf, but because of the bigger screw up of trading with the enemy in Iran.

Kellyanne ConwayKellyanne Conway

No
Kellyanne Conway
CEO and President
the polling company™
That punishment would not fit the crime until we understand the circumstances of what happened, who knew what when, and what actions have been taken.

No
David P. Goldman
Senior Editor
First Things
If BP is liable for damages, it should be sued. If it committed criminal acts, it should be prosecuted. BP is a corporation, nonetheless, and should be entitled to do legitimate business.

David GoodfriendDavid Goodfriend

Yes
David Goodfriend
Lawyer
Yes, but first things first: raise the statutory liability cap above the meaninglessly small level it is today to make sure that (a) BP has to pay for this mess, and (b) every other oil company is on notice that they had better invest appropriately in safety precautions.

Jim Lacamp

No
Jim LaCamp
Portfolio Manager, Portfolio Focus, RBC Wealth Management
Co-Host, Opening Bell Radio Show, Biz Radio Network
The courts can decide the damages to BP, not the government. If they violated specific laws/safety standards, there should be legal recourse and penalties. Barring them would simply be political posturing. It's not a free-market solution; it would be a mercantilist solution.

Donald Luskin

No
Donald L. Luskin
Chief Investment Officer, Trend Macrolytics LLC
Instead, the incompetent federal government should be barred from regulating the oil industry or anything else.

Daniel MitchellDaniel Mitchell

No
Daniel J. Mitchell
Senior Fellow
Cato Institute
BP already is losing billions of dollars because of this unfortunate accident. Any ban on federal contracts or oil leases would be a senseless penalty on a firm that has learned a very important bottom-line lesson on the importance of safety.

Steve Moore

No
Steve Moore
Sr. Economics Writer, The Wall Street Journal Editorial Board
This was a completely unforeseen accident that does not appear to be based on any negligence on the part of BP. We need more, not fewer, companies engaged in drilling to keep energy prices low.

Peter NavarroPeter Navarro

Yes
Peter Navarro
Business Professor
University of California, Irvine
At least until it pays for all costs of the spill, including all economic damages.

James Pethokoukis

No
James Pethokoukis
Money & Politics Columnist
Reuters
Such a move would be a terrible precedent as to the treatment of US companies overseas. It might also be illegal under the World Trade Organization. While protectionism might not be the intent, it would certainly be the result.

Robert Reich

Yes
Robert Reich
Former Labor Secretary
Professor of Public Policy, UC Berkeley

Yes, until it proves it has taken sufficient measures to prevent another disaster.

Mark WalshMark Walsh

Yes
Mark Walsh
Political Strategist and Campaign Innovator
The statements of their CEO and US Chief are shameless. The company should not be given US government money through a contract.

© 2012 CNBC, Inc. All Rights Reserved
Sectors:Oil and Gas
Companies:BP p.l.c.


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