Jim Inhofe: “let me just make one comment. I don't very often agree with President Obama. Right now, he is unsure what that level…”

“let me just make one comment. I don't very often agree with President Obama. Right now, he is unsure what that level should be. I am unsure what that level should be. Maybe it should be the level we are talking about right now, and it may end up there, but we just don't know that. We know that what the Senator from New Jersey and I experienced up at Exxon Valdez some 20 years ago was not adequate, so that is why we passed the legislation. It should be upgraded. Certainly, we need to raise these limits. Where it should be raised, I don't know. I don't know where the cap should be. We are going to have to find out as this thing moves along. I would only say this: If you have it up too high, you are going to be singling out BP and the other four largest majors and the nationalized companies, such as China and Venezuela, and shutting out the independent producers. I don't want that to happen. Let's wait and see where that cap should be.”