Mississippi Governor Concerned Over BP (NYSE:BP) Escrow Account

There are already a number of concerns over the pressure from Obama to have BP (NYSE:BP) put $20 billion into an escrow fund to pay claims in the years ahead, with $5 billion a year being committed to the task.

One of the latest concerns is from Mississippi Gov. Haley Barbour, who said he's not sure it's a good idea because BP would be a more predictable company in using their capital to generate revenue, which in turn would make them a healthy company which would be able to pay for their responsibilities, rather than a company dumping billions into an account that produces nothing.

BP has already been paying out millions in claims, and it is questionable as to whether or not this fund will be more fair and faster than they are doing it now.

While acknowledging BP must pay all for the losses in the region, Barbour said it remains to be seen whether or not the escrow account was the most efficient way to accomplish it over the long term.