"BP's Fines for Oil Spill Appear Headed Back To Gulf Coast States"

"Two years after the worst offshore oil spill in U.S. history, Congress is poised to steer a large chunk of the fines that will be paid by BP - up to $21 billion by one estimate - to the Gulf Coast to help restore coastal ecosystems and rebuild economies in the region."

"A transportation bill negotiated by the House and Senate calls for steering 80 percent of the penalties from the 2010 Deepwater Horizon spill to the states of Alabama, Florida, Louisiana, Mississippi and Texas. The bill could clear Congress before the end of the week.

BP could face fines of between $5 billion and $21 billion, according to Sen. Mary Landrieu, D-La., who pushed for passage of the RESTORE Act, or Resources and Ecosystems Sustainability, Tourist Opportunities and Revived Economies of the Gulf Coast States Act."

Richard Simon reports for the Los Angeles Times June 28, 2012.


"Congress Poised to Act on Highways, Student Loans" (AP)

Source: McClatchy, 06/29/2012