Somebody got excited

$45 million: BP finally settles with parish

 

In the face of widespread rumors about the parish settling with BP over the 2010 oil spill that resulted from the Deepwater  Horizon explosion, officials within the administration confirmed Plaquemines Parish has been offered $45 million from the oil company.
Speaking on the condition of anonymity because terms of the settlement  are confidential,
officials stated last week that BP will pay $25 million to Plaquemines in 2017, then $5 million per year for the next four years. Sources said about 15 percent of that money
could go toward legal fees accrued in the seven years since the oil spill.

“The reason I put it on the agenda is because I heard the numbers in the street before we were ever informed,” said District 5 council member Benny Rousselle, who declined
comment on the reported settlement figure.
Based on a number of items introduced at the council meeting to lift the parish’s hiring freeze for specific positions ,Rousselle did say he believes no BP money should be spent on recurring expenses such as payroll.

Parish president Amos Cormier III also declined comment on the $45 million figure, but said any money received  from BP will coincide with incoming FEMA funds  that have been owed to the parish since Hurricane Katrina and an expected upturn in oil and gas prices.

“With the missiles that were shot into Syria (on April 6) crude jumped to $55 per barrel,” said Cormier. “Now with the bombing of Afghanistan (on April 13) and war drums being beaten, anyone would be a fool not to think oil is going up. Geopolitical uncertainty always drives up oil prices.”

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