ELI Gulf Team, February 24, 2016
Now that the proposed consent decree among the United States, five Gulf states, and BP has been released, there is greater certainty about the amount of funding that will flow to the Gulf for restoration and recovery efforts. We now know that, if the settlement with BP is finalized, up to $16.67 billion will be available through the three main processes – the natural resource damage assessment process, RESTORE Act funding, and National Fish and Wildlife Foundation (NFWF) grants. Of that amount, only about $1.57 billion has been obligated to projects. That means that there is much more money left to be spent.