Nearly eight years after an explosion unleashed millions of barrels of oil into the Gulf of Mexico, Mississippi’s elective representatives still must decide how to spend part of the compensation for the spill.
A committee of attorneys involved in litigation arising from the 2010 Gulf of Mexico oil spill has made its recommendation for dividing some $700 million in fees among 122 law firms involved in years of complex legal work.
Mississippi lawmakers may be unable to decide this year how to spend $750 million in oil spill damage payments, with sniping between House and Senate members after a bill died at a Tuesday deadline for action when the House Appropriations Committee didn’t bring it up.
A local state representative is raising concerns about a bill that would channel payments from the Deepwater Horizon oil spill settlement to a fund for projects on the Mississippi Gulf Coast.
Some Northeast Mississippi legislators are putting the brakes on plans to give three coastal counties all of the funds from the $750 million settlement with BP for the 2010 Deepwater Horizon explosion and subsequent oil spills in the Gulf of Mexico.
Oil giant BP PLC has put a final price tag on what its catastrophic Gulf of Mexico oil spill cost the company, and it’s a hefty sum: $61.6 billion.
Part of Mississippi’s oil spill settlement money would be set aside to help pay for transportation improvements statewide, under a proposal that moved through the House but is likely to stall in the Senate.
A federal judge says BP will begin paying up to $1 billion in settlements to compensate local governments across the Gulf Coast for lost tax revenue and other economic damages they blame on the company’s 2010 oil spill.
More than five years after the worst offshore oil spill in U.S. history fouled beaches, coated seabirds in thick goo and threatened delicate marshes, BP has agreed to pay a record settlement to affected states in hopes of bringing an end to a legal drama that has cost the company billions.
Five years after the nation’s worst offshore oil spill, the industry is working on drilling even further into the risky depths beneath the Gulf of Mexico to tap massive deposits once thought unreachable.