Lafayette, LA – July 2, 2015 – (RealEstateRama) — Congressman Charles W. Boustany, Jr., MD (R-South Louisiana), issued the following statement after officials in five Gulf States announced they had reached a settlement agreement with BP for $18.7 billion after the BP oil spill in 2010. The settlement will go toward resolving Clean Water Act penalties and damage claims as well as settling outstanding economic claims. In a press conference today, Louisiana Attorney General Buddy Caldwell estimated Louisiana would be able to recover approximately $10 billion.
Boustany said: “The 2010 BP oil spill was the largest environmental disaster in American history, impacting the lives of nearly every individual on our Gulf Coast. Finally, after five years of litigation and a nightmare for so many Louisianans living and working on our coast, this settlement allows us to turn the page. I will work with the Louisiana delegation as well as our state and local officials to ensure that these funds will be used for their intended purpose: rebuilding our coast and revitalizing the Gulf.”