Louisiana to receive $6.8 billion from BP settlement

[dan326]

News alert: Louisiana to receive $6.8 billion from BP settlement

Daily Report Staff

July 2, 2015

 

Louisiana expects to receive $6.8 billion of a $18.7 billion agreement reached between multiple Gulf Coast states and BP regarding the 2010 Deepwater Horizon oil spill, state officials announced this morning. Read Daily Report AM for more details.

 

businessreport.com

 

 

I know its not a priority but maybe some of  this money can go towards a renovated/new zoo? Or better yet towards roads and new schools?

 

[dan326]

https://www.businessreport.com/article/louisiana-gets-lions-share-18-7b-settlement-bp-oil-spill

Looks like I reacted too fast, it will almost all be used for coast restoration

[all2neat]

It should all be used for coastal restoration.

[dan326]

Breakdown:

Of the $6.8 billion Louisiana officials expect to receive, $5 billion would go toward restoring natural resource damages; $1 billion would be set aside to pay for economic damage claims; and $787 million would be distributed through the RESTORE Act

[richyb83]

It took the Mississippi River 6,000 years to build the LA coast....And it took man 75 years to wash away a third of it. Experts agree we have 10 years or less to act before the loss becomes irreversible....does Louisiana really lose a football field of land every hour? That's INSANE!

 

Somehow the sediment from the river has to get into those marshes...cutting holes into the levee's below Port Sulphur?If not...  Terrebonne Bay & Barataria Bay could soon become part of the Gulf!

 

As a little kid the delta region used to be finger-shaped on the map...but is now a string-like shape meandering to the southeast when looking at satellite.

 

Amazing though that Louisiana is actually gaining land from two delta's of the Atchafalaya south of Morgan City...looks pretty cool on the satellite's during weather broadcast!

[dan326]

Thanks for the info. I didn't realize it was that serious, now I feel kind of foolish, lol. Maybe that oil spill was a secret godsend?

[richyb83]

Your welcome...what's kinda sad is Louisiana used to Rank #32 in Land Area in the U.S....But sometime several years back fell to 33rd behind Pennsylvania because so much land has been lost. 

 

It's a gumbo of reasons...mainly missing the sediment from the Mississippi(levees)...oil companies that bombarded the marshes with main made canals that help more land erode away + all of the hurricanes over the years don't help.

 

Your right...all this $$$(if spent properly) could be a godsend...