NEW YORK (CNNMoney.com) – BP: Kick up $20 billion to pay for the recent oil spill in the Gulf region. And make it snappy.
That's the message Senate majority leader Harry Reid and members of the Senate Democratic Caucus sent to BP CEO Tony Hayward in a letter on Monday.
"Establishment of this account would serve as an act of good faith and as a first step towards ensuring that there will be no delay in payments or attempt to evade responsibility for damages," the letter said.
But it maybe hard for BP to comply: The London-based company only had about $7 billion in cash as of March 31, according to its most recent financial statement. And the oil giant is scheduled to pay out dividends on June 21 - although it is holding a board meeting Monday to discuss the matter.
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