BP to donate net revenue from spewing well to protect/rehab wildlife along Gulf

June 8, 2010

Day 50

BP posts

LIVE feed

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If there is any wildlife left. See brown pelicans mired in the oil with it dripping off their beaks.

One hopes BP is finally beginning to see the environmental devastation of oil that did not have to reach the shore.

[BP] will donate the net revenue from oil recovered from the MC252 spill to create a new wildlife fund to create, restore, improve and protect wildlife habitat along the coastline of Louisiana, Mississippi, Alabama, and Florida.

TONY HAYWARD:

We’ve already launched the largest environmental response in history, and BP is committed to protecting the ecosystems and wildlife on the Gulf Coast. Proceeds from the sale of oil recovered from the MC252 well will be used to further this commitment. We believe these funds will have a significant positive impact on the environment in this region.

Largest response to the largest catastrophe. And it can hardly be called it a “donation” when it came about after the talk of criminal prosecution. More like mitigation of future civil/environmental damages. And when will be the announcement of the human protection and rehabilitation fund?

FULL PRESS RELEASE FOLLOWS

BP to Donate Net Revenue From MC252 Well Leak to Protect and Rehabilitate Wildlife in Gulf States

HOUSTON — As part of its commitment to restore the environment and habitats in the Gulf Coast region, BP today announced that it will donate the net revenue from oil recovered from the MC252 spill to create a new wildlife fund to create, restore, improve and protect wildlife habitat along the coastline of Louisiana, Mississippi, Alabama, and Florida.

The creation of this fund is over and above BP’s obligations under the Oil Pollution Act of 1990.

BP’s net revenue from the sale of oil recovered from skimming operations and the well containment systems will be deposited into this newly-created fund.  At this point, BP cannot predict the total of amount of net revenue that will be deposited into the wildlife fund. The amount of funding will be contingent upon the amount of oil collected during operations and the price at which the oil is sold.

BP will provide regular updates on the amount of proceeds being deposited into the fund.

“We’ve already launched the largest environmental response in history, and BP is committed to protecting the ecosystems and wildlife on the Gulf Coast. Proceeds from the sale of oil recovered from the MC252 well will be used to further this commitment,” said Tony Hayward, BP’s chief executive officer. “We believe these funds will have a significant positive impact on the environment in this region.”

The creation of wildlife fund is the latest example of BP’s commitment to help the Gulf Coast states and their residents.  On May 24, 2010, BP announced a commitment of up to $500 million for an open research program studying the impact of the Deepwater Horizon incident, and its associated response, on the marine and shoreline environment of the Gulf of Mexico.