RESTORE the Gulf Act Passes Senate Committee
If Approved, Gulf States to Receive Millions from BP
The RESTORE the Gulf Coast States Act was approved by the Senate Committee on Environmental and Public Works on September 21, 2011. The RESTORE Act was backed by bipartisan committee approval and will now proceed to the Senate floor for a full vote.
The RESTORE Act was drafted in response to the April 2010 Deepwater Horizon oil spill which pumped approximately 4.9 million gallons of oil into the Gulf of Mexico. Louisiana Senator Mary L. Landrieu and Alabama Senator Richard Shelby introduced the legislation supported by several fellow Gulf Coast Senators.
If approved by the full Senate, the bill would ensure that funds for economic and environmental recovery are sent to the Gulf Coast States and streamline the process for receiving the funds. Current law requires responsible parties to pay penalties to the Federal Treasury and affected states are on their own. The Clean Water Act allows the EPA to collect $1,100 per barrel of oil spilled, or $4,300 per barrel if there is a finding of gross negligence, from any party found responsible for an oil spill in federal waters. Based on the estimated 4.9 million barrels of oil spilled into the Gulf of Mexico, BP could face fines between $5.4 billion and $21.1 billion. If the RESTORE Act is approved, 80% of the fines BP is required to pay under the Clean Water Act will be allocated to Gulf States affected by the spill. This funding could serve as a major economic boost to communities still struggling to clean-up coastline and businesses damaged by the spill.
We have a very strong bill with very strong support including the chair of the Environment and Public Works Committee," Louisiana Senator David Vitter said. "Louisiana and the Gulf Coast took a beating from the oil spill last summer, and the culprits - BP - are being held accountable. Our coastlines were the first line of defense against the oil spill as well as for tropical storms. It's extremely important to support the ongoing projects to build up our ecosystems and coastline."
For more information on RESTORE Act, visit
http://landrieu.senate.gov/mediacenter/pressreleases/07-21-2011-1.cfm
http://www.edf.org/sites/default/files/11714_RESTORE-Act-Summary-April2011.pdf
