Florida GOP senator ‘encouraged’ by Obama’s plan for BP account

Senate
Democrats have said the fund should total $20 billion in escrow, and
Obama is set to lay out his own plan for the fund during his Tuesday night address. The account, which would be managed by an independent
mediator, would help pay out claims of damages against BP, which is
steadily bleeding its cash reserves and losing stock value over the
spill. The fund would ensure an available pool of money from which
damages could be paid, regardless of the fate of BP as a company.

The
plan is expected to be a top item on the agenda when Obama meets with
BP CEO Tony Hayward on Wednesday at the White House. It will be the
first meeting between the two since the oil spill started.

Cross-posted to the Twitter Room.