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Congressman Paul Tonko issued the following statement in response to President Obama’s announcement that BP will set up a $20 billion fund to pay claims related to the Gulf oil spill, create a $100 million fund to compensate oil rig workers, and stop dividend payments to shareholders for the rest of the year.

“Today, after weeks of outcry for action, BP finally agreed to put working families and small businesses ahead of shareholders and short term corporate profits.

“Had they acted with rigor and integrity from the beginning, we would not be forced into having this conversation right now. However, their short sightedness has demanded a swift and aggressive response, which the President has implemented.

“In the short term, we must stop the oil from continuing to spill and subsequently clean up our shores, making BP pay the tab.

“Our energy future is bright - it is filled with diversity, clean energy and American jobs for America's workers. Let us heed the devastating message that this never before seen disaster sends to us - let us build the strongest, most powerful and most competitive clean energy economy in the world. We can and we must rise to this challenge, our children's future depends on it.”

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