BP Oil Spill

   In this week’s Economic Report, Dr. Rick Harper discusses economic issues related to the fifth anniversary of the BP Oil Spill in the Gulf of Mexico.

It was on April 20, 2010 that the Deepwater Horizon oil rig exploded, killing eleven people and triggering a sea-floor oil gusher that flowed for nearly three months. It was the nation's largest off-shore oil spill.

IHMC

With the recent news cycle being dominated by coverage of the five-year anniversary of the BP oil spill, it pays to take a few minutes to reflect on it. While the fear of those early days of fouled water and stained beaches has faded, there’s one thing we should never forget: it could have been worse. A lot worse.

Photo via Flickr//citron_smurf

Santa Rosa County residents in search of RESTORE Act funding for their projects can begin submitting their requests as of Monday. About $4.4 million is available.

Passed by Congress in 2012, the RESTORE Act diverts 80% of any civil and administrative Clean Water Act penalties related to the 2010 BP oil spill to the five Gulf Coast states, Florida, Alabama, Mississippi, Louisiana and Texas, for ecological and economic restoration.

Bob Barrett / WUWF News

County Commissioners from across Florida's Gulf Coast met at the Hilton on Pensacola Beach Thursday morning to talk about  for money from fines collected because of the Deepwater Oil Spill. This meeting took on added urgency because some of that money may soon be available.

wikimedia

  Florida Senator Bill Nelson was in Pensacola Wednesday to update local officials on the status of payments from the RESTORE Act, which was passed after the BP oil spill in 2010.

Make no mistake; there is still a lot of litigation left to go in the aftermath of the BP oil spill. However, Senator Nelson was in town to pass along some good news to local officials concerning the distribution of hundreds of millions of dollars that are available.

Four years after the massive oil spill in the Gulf of Mexico resulting from the Deepwater Horizon explosion, it appears another year will pass before BP learns how much it will owe under the Clean Water Act.

On Monday, U.S. Magistrate Sally Shushan issued a seven-page schedule of hearings, conferences and deadlines, leading up to the January 20 trial date set by presiding Federal Judge Carl Barbier. The schedule also calls for the trial to end on February 5.