Home » NEWS » Energy » Mississippi set to get first $150M from oil spill settlement
Deepwater Horizon

Mississippi set to get first $150M from oil spill settlement

Mississippi is about to receive the first $150 million for economic damages from the 2010 Gulf of Mexico oil spill.

Attorney General Jim Hood says the payment from BP is expected Friday.

Under a multistate oil spill settlement, Mississippi is to receive almost $2.2 billion. About $1.5 billion is for environmental restoration and economic development. The Legislature will decide how to spend $750 million over 17 years.

Hood says in a news release Thursday that he wants the settlement money to be spent on the Gulf Coast. The Democrat also says he’s concerned that Republican leaders might use the money “to cover up their self-created budget hole.”

In special session this week, legislators gave Republican Gov. Phil Bryant permission to tap state financial reserves to patch budget deficits.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Associated Press

Leave a Reply

Your email address will not be published. Required fields are marked *

*