“$700 million in oil spill money slated for Louisiana roadwork”
June 5, 2019
“Louisiana lawmakers want to redirect nearly $700 million in Gulf oil spill recovery money that had been earmarked for trust funds to instead finance roadwork, bridge upgrades and port improvements.
The state is receiving yearly payments of $53.3 million through 2034 from BP as compensation for economic damage from the massive 2010 oil spill. The payments are separate from recovery money slated for coastal restoration
With a 90-11 House vote Tuesday (June 4), lawmakers gave final passage to a bill by Rep. Tanner Magee steering that money to infrastructure projects. The proposal goes next to the desk of Democratic Gov. John Bel Edwards for his review…”
https://www.nola.com/news/2019/06/700-million-in-oil-spill-money-slated-for-louisiana-roadwork.html
I watch and invest in oil stocks from time to time. Will 700 million go into infrastructure or a trust funds. Depending on which might change the way or what a person invests in. At least in Louisiana infrastructure is looking good it seems.