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BP p.l.c. Message Board

  • fowler fowler Mar 9, 2012 11:01 AM Flag

    Senate votes BP fine money be distributed to Gulf Coast

    Anyone else consider this good news? With the politicians in agreement of where the money goes, it would seem more likely the state and federal sides could settle without much public backlash.

    "The Senate voted to approve a measure Thursday that would give the Gulf Coast billions in spill-related fine money, Florida Today reports.

    Known as the RESTORE Act, both the House and the Senate must work out the differences between the two versions of the amendment. However, the chambers agree that 80 percent of the fine money that BP will pay for the 2010 Deep Horizon disaster should go to the Gulf region.

    Lawmakers estimate BP could pay $5 billion to $20 billion in fines. However, without the legislation, the fine money would go into a trust fund for future oil spills across the country and to the U.S. Treasury , the article said.

    The April 2010 Deepwater Horizon oil spill affected a large part of the Gulf Coast region, including many coastal areas in Florida."

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    • I hope Duhbama finally does something right and vetos this "Act" (if he can). What is there to restore? BP is already paying/paid all and more of the "Restoration" costs. What a boat load of Cr@p. The slimey politicians will probably make sure the money goes to "Minorities" who vote their way, that is after they line their own pockets first. Sure am glad I got out of this r@page of BP. Nice to see every single one of my 20+ holdings up today and the one I dumped; BP down. Back in at 28.

37.29+1.24(+3.44%)Jul 28 4:02 PMEDT