That $75 million cap might have been OK in the 1930s, but I expect the tab here could be in the billions range.
I also wondered where environmental damage becomes economic damage- how will BP's legal staff look at that? I don't know how the two are defined in the government bill, but I can see BP trying to stuff the no limit environmental liabilities into the economic bag.

Regardless, I see a lot of taxpayer money going into this disaster.