"Barbour backtracks on opposition to BP escrow account: “I think the President was smart”"
Lasst week Dirty energy lobbyist-turned-Governor Barbour was concerned that escrow account will cut into BP’s profits, saying “It bothers me.” On Sunday, on NBC’s Meet the Press, when host David Gregory asked Barbour why he opposed the account now that the oil giant has agreed to pay into it, Barbour made a statement that might find its way into a bar reelection campaign ad. Think Progress has the video
BARBOUR: Right, well, I thought that they were talking about taking $20 billion from BP all at once and my fear was if you took $20 billion from them all at once, put it in an escrow account then they wouldn’t have the working capital to generate the revenue to pay us. I think the President was smart, and I congratulate him and BP that they reached an agreement on. Instead of $20 billion taken out of that working capital all at once, it’s actually going to be $5 billion this year, $5 billion the next year, $5 billion the following year and $5 billion the fourth year.
If Barbour ends up running for the GOP presidential nomination, I’m quite certain that clip will be showing up over and over again.