Washington, DC--Congressman Eliot Engel (D-NY-17) issued the following statement today on news that BP is claiming a $9.9 billion tax credit resulting from their financial obligations to clean up their catastrophic oil spill currently spreading throughout the Gulf of Mexico, and onto the Gulf Coast shore.

Rep. Engel said, “If this is not proof positive that corporate greed is out of control, then I shudder to think what could be next.  BP has not been truthful about what has been happening in the Gulf from the very beginning when the well exploded, killing 11 and sending millions of gallons of oil into the Gulf.  After being responsible for the worst environmental catastrophe in American history, they have used and abused the system, which has for too long permitted oil companies to treat the environment as their own private playground.  Now they are looking to cut their losses at the expense of the American people.  This is simply shameful.

“When Goldman Sachs was fined over $500 million due to their business practices, they did not seek tax deductions, as was their right.  When your company is making Goldman Sachs look like a model of corporate behavior, then you have clearly lost any credibility.  Claiming billions of dollars in losses is an affront to the hard-working people of the Gulf Coast who have lost their livelihood as a result of this spill.  I call on BP to show, for once, a glimmer of humanity in this situation and halt its claim for this tax break immediately.”

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