Professor Montre Carodine recently told AL.com she questions why part of Alabama’s BP oil settlement will be directed to the state’s General Fund.
As part of BP’s $18.7 billion settlement with states affected by the 2010 Gulf of Mexico oil spill, Alabama will receive $1.3 billion for environmental damages that will be paid over 15 years for coastal restoration projects. An additional $1 billion for economic damages will be directed to the state’s General Fund for 18 years, according to AL.com.
“That should be a cause of concern,” Carodine said. “Who knows what will end up happening to that money. We all know Alabama is in pretty bad financial shape. I don’t know if we can trust that $1 billion will be spent the same way it needs to be spent and that it will go toward some of the necessary repairs on the Gulf Coast.”
For more, read “Law Professor Says BP Settlement A ‘Positive” For Alabama, But Questions $1 billion To State’s Beleaguered General Fund” and “Poll Shows Gulf Coast Voters Want BP settlement Money Spent On The Environment, More So Among GOP Voters Than Democrats.”