BP settlement belongs to Mississippi Gulf Coast

On April 20, 2010, an explosion at the British Petroleum offshore drilling platform, Deepwater Horizon, operating in the Gulf of Mexico, caused nearly 5 million barrels of oil to gush into the ocean. Spewing uncontrollably for several months, much of it reached the shores of Mississippi, polluting beaches and wetlands, harming tourism and devastating the vital fishing industry.

Last month, BP agreed to a payout of $18.7 billion in settlement money. Mississippi’s share will be $1.5 billion, with $750 million flowing directly into state coffers. The first installment is due this year.

And, predictably, the big spenders in Jackson, are already […]