BP To Make Advance Payment
BP has announced it will make an advanced payment of one-billion dollars towards restoration projects on the Gulf coast. Senator David Vitter says he's pleased with BP's decision to get involved with the restoration process now rather than wait for long term studies. The first payment of 500-million dollars will be made within 45 days with the money divided between the Gulf coast states, NOAA and the Department of the Interior. Vitter says it will take some time to determine exactly how the money will be handed out. Under the current formula Louisiana and the other states would each receive 100-million dollars. Garrett Graves, director of the governor's coastal office, says they have yet to determine how the money will be used.