Environmental Groups Pitch $500M Recovery Plan For Gulf Oil Spill
by: Andrew Schneider, July 18, 2012 11:07:00 am
The environmental groups released a report laying out 39 priority proposals for spending the money. These include restoring Louisiana’s coast, rebuilding eroding wetlands and creating nearly 200 miles of oyster reefs.
Putting the full recovery plan into force would cost roughly $500 million.
Under the Oil Pollution Act, companies must pay to restore areas fouled by a spill.
The amount BP will have to pay is subject to ongoing litigation with the government. Regardless, the company is expected to pay billions for the more than 200 million gallons of oil spilled after the Deepwater Horizon exploded in 2010.