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The state and federal government are asking BP for more money to cover preparation efforts and expected losses from the massive oil slick in the Gulf of Mexico. As Whitney Ray tells us, BP is promising Florida’s Attorney General it will pay claims with in two days of receiving them, while Congress attempts to change federal law to force the oil company to pay more.

Members of the US Coast Guard briefed Governor Charlie Crist Friday on the 11 million gallons of oil hovering near Florida’s coast.

“We don’t think there is an emanate threat to Florida, if there is it will likely be somewhere around the panhandle first,” said Commandant Thad Allen or the US Coast Guard.

While the world waits to see where the oil is headed next, BP is spending 25 million dollars in Florida to safeguard the coast with protective boom.

Federal Law limits BP’s liability for economic losses to 75 million dollars. Florida Congressman Allen Boyd says that’s not good enough.

“It could be catastrophic if that line broke,” said Boyd.

Boyd is supporting legislation to increase the company’s liability to 10 billion. While Congress considers the legislation the state is getting word that BP is going to cough up more cash for Floridians.

Florida Attorney General Bill McCollum pressured BP into loosening its pockets. The AG’s spokeswoman Sandi Copes says the company promises to pay claims quickly.

“BP is going to make their claims process easier and more efficient and we’ve received a promise from them that they will be able to turn those claims around within 48 hours of the first report,” said Copes.

Still business owners near the coast hold out hope that it won’t be needed.

There are no estimates on how much money Florida could lose from the oil leak. Some people have already canceled vacations, but there is no data yet on many people might visit some place else instead of heading to Florida if the oil hits.