After the announcement by five Gulf Coast states that their governments had reached a restitution settlement with the British Petroleum Corp. (BP) for damages and expended resources stemming from the 2010 oil spill that devastated America’s southern coastline, U.S. Rep. Charles Boustany (R-LA), issued a statement late last week on how his state, as well as others, can derive some closure as the settlement helps them recover financially from the tragedy.
“The 2010 BP oil spill was the largest environmental disaster in U.S. history, impacting the lives of nearly every individual on our Gulf Coast,” Boustany said. “Finally, after five years of litigation and a nightmare for so many Louisianans living and working on our coast, this settlement allows us to turn the page. I will work with the Louisiana delegation, as well as our state and local officials, to ensure that these funds will be used for their intended purpose: rebuilding our coast and revitalizing the Gulf.”
The settlement funds will pay Clean Water Act penalties and damage claims, and will also be used to cover outstanding economic claims. In a recent press conference, Louisiana Attorney General Buddy Caldwell estimated that Louisiana would be able to recover approximately $10 billion from the settlement.