With an eye on efficiency, TRMC expands
April 27, 2011
Maryann Boudreaux
April 29, 2011
A groundbreaking settlement between BP with both federal and state agencies has committed the embattled oil giant to provide $1 billion toward coastal restoration for states impacted by the Deepwater Horizon spill last year.
The agreement is designed to help finance projects that would restore natural resources from Texas to Florida at the earliest possible opportunity, according to BP Chairman, and President of BP America Inc. Lamar McKay.
“BP believes early restoration will result in identified improvements to wildlife, habitat and related recreational uses in the Gulf,” McKay said in a prepared statement. “Our commitment to that process is the best way to get restoration projects moving as soon as possible.”
“We are estimating that we will get $400 million,” said state Rep. Gordon Dove (R-Houma) regarding Louisiana’s share. “With the fiscal crisis that we have had that is a good shot in the arm to keep our coastal restoration going.”
Dove, who chairs the Louisiana House of Representatives Committee on Natural Resources and Environment, said the $1 billion is only part of a $20 billion tab of federal fines against BP. “This is just a down payment,” Dove said. “It could be more depending on how the federal government fines them.”
“This is only the beginning of securing BP funds to restore coastal Louisiana,” said Rep. Charles Boustany (R-Lafayette). “BP must fulfill its responsibility to Louisiana’s fragile coastline and the shrimpers, fishermen and service workers whose jobs and livelihoods were severely affected by the spill.”
“We applaud all who worked on this agreement,” said America’s Wetland Foundation Chairman R. King Milling. “This coastline is among the most valuable in the world with one of its great deltas disappearing before our eyes. The urgency of action needed to restore it is unparalleled. These dollars could provide the jumpstart for comprehensive environmental restoration plans that would make a difference in our fight to stop the land loss and to sustain the nationally critical benefits this coast provides.”
The Gulf Renewal Project, a coalition of environmental, economic and community groups, called the $1 billion from BP “a significant first step” in restoring the Gulf.
McKay said the payment was voluntary on the part of BP and is not required by the Oil Pollution Act. Proposed restoration plans could begin as early as mid 2011 and continue implementation into 2012.
Lamar McKay
