Latest news: January 19, 2012

01.19.2012 | In Latest News, Uncategorized

BP May Pay U.S. $25 Billion for Gulf Spill, Morgan Stanley Says

By Brian Swint, Bloomberg News. January 19, 2012.

“BP Plc (BP/), the operator of the Macondo well that caused the worst U.S. oil spill in the Gulf of Mexico in 2010, may reach a settlement with the U.S. for as much as $25 billion, Morgan Stanley said…”

Louisiana coastal restoration spending plan proposed

By Mark Schleifstein, The Times-Picayune. January 19, 2012.

“Louisiana would spend $923 million on hurricane protection and coastal restoration projects during fiscal year 2013, including $161 million to pay part of the state’s share of the upgraded New Orleans area hurricane levee system, and $23 million toward the Morganza to the Gulf levee protecting Houma, according to a draft plan presented to the Coastal Protection and Restoration Authority on Wednesday…”

Coastal plan spans decades

By Mike Hasten, The News Star. January 18, 2012.

“BATON ROUGE — A proposed master plan for protecting and restoring Louisiana’s coast won’t make everybody happy, says Garret Graves, chairman of state panel charged with the task, but it’s a plan that can protect the state from further ruin from storms…”

Wetlands could soon get carbon-credit money

By Cara Bayles, The Daily Comet. January 18, 2012.

“A proposal that would allow companies to invest in coastal wetland-restoration projects could bring $5 billion to $15 billion into Louisiana over the next 40 years…”

Civil engineers say state infrastructure in bad shape

By Mike Hasten, The News Star. January 18, 2012.

“BATON ROUGE — A report by Louisiana civil engineers says the state’s roads, bridges, levees, dams and other infrastructure need serious improvements, and the primary culprit behind the problem is lack of funding…”

Gulf of Mexico oil spill claimants who settle, but don’t sue, exempted from paying into lawyer fund

By Rebecca Mowbray, The Times-Picayune. January 18, 2012.

“People settling oil spill claims against BP who are not also involved in lawsuits will not have to set aside 6 percent of the settlement to pay lawyers, a federal judge ruled Wednesday…”