Friday, June 11, 2010

BP (NYSE:BP) Providing $75 Million in Grants to States to Battle Oil Impact

BP (NYSE:BP) (LON:BP) said they're going to provide grants to Mississippi, Florida and Alabama totaling $75 million, to be evenly distributed among the three states to help them ease the effects of the oil spill.

The oil giant recently provided immediate help to Louisiana to help build berms or islands to protect the shore of the state from oil sweeping up on it.

Another five rounds of $60 million each will be made to Louisiana by BP.

In the middle of May BP had paid Florida what is termed a tourism grant for $25 million to advertise the oil hadn't hit their shores yet. Mississippi and Alabama will get similar grants, although they'll be a little less at $15 million each.

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