http://en.wikipedia.org/wiki/Oil_Pollution_Act_of_1990
Following the 2010 Deepwater Horizon oil spill in the Gulf of Mexico, numerous U.S. Senators attempted to pass a bill to raise the $75 million cap limit to $10 billion, retroactive to before the spill occurred. Senators of both Republican Party and Democratic Party blocked efforts for new legislation on multiple occasions, arguing that the new law could have unintended consequences. [7] Democratic Party senator Mary Landrieu of Louisiana was quoted in saying “We want to be careful before we change any of these laws that we don’t jeopardize the operations of an ongoing industry, because there are 4,000 other wells in the Gulf that have to go on.” [7] This statute limits BP's monetary damages to $75 million for losses to private parties, although it still remains liable for all cleanup costs under the law.