BP To Donate Gulf Oil Revenue To Help Wildlife

In the aftermath of the devastating oil spill in the Gulf of Mexico, oil company BP has looked for ways to make amends for the damage the spill has caused. In addition to footing the bill for the massive cleanup effort, BP has donated $1 million to help families of Gulf Coast fisherman forced out of work by the oil spill.

Now, the company has announced they will donate the revenue of the oil siphoned out of the Gulf to establish a fund to help wildlife threatened by the oil. Dozens of species of fish, birds, turtles and other animals living in the Gulf of Mexico have found themselves covered in crude oil, their habitats destroyed, unable to complete seasonal migrations -- for many, it is a deadly combination.

According to AOL News, BP executives estimate the revenue from the approximately 15,000 barrels a day that will be recovered is approximately $1.11 million a day. After deducting government royalties and sharing revenue with co-owners, $586,218 a day will be given to the wildlife fund.

McClatchy Newspapers reports,

The company also took pains to note that its contribution is voluntary; the fund it's creating is "over and above BP's obligations under the Oil Pollution Act of 1990." The money will be made available to state agencies and non-profits that are focused on wildlife protection and restoration, the company said.

Comments

[lvdragonlady]

02:44 AM on 06/15/2010

Ponders just how much profit they will have from the gulf it is all going into the water? Just wondering.

[TomZart]

12:01 PM on 06/11/2010

GULF COAST OIL SPILL AND OIL SOAKED BIRDS


The keeping of birds is part of history
How far back no one can know.
Once luxury pets of kings and queens
Or on the shoulders of pirates long ago.

Birds have remained on man's menu
Though all can be tamed as a pet.
Chickens, ducks, geese and turkeys
Are served on the tables we set.

Noah sent a dove to find dry land
And it returned with an olive leaf from a branch.
God gave birds feathers for clothes
So in the elements they would have a chance.

Birds are a gift from God to man
To be left alone to do their thing.
We have fouled their world and oiled their plumage
And yet they continue to sing.

As we watch the Gulf Coast headlines
Most can’t help but shed tears of sorrow.
What will happen to all God’s creatures
And how many shall vanish tomorrow?


“Free To Use To Teach”

By Conservative Poet &
Soldier For The Lord
Tom Zart
Most Published Poet
On The Web

[-swift]

12:53 AM on 06/11/2010

I heard on NPR one fisherman said last year he made $27,000 in May. BP gave him $5,000 so far. No word on if he'll ever get any more. They will have to pay that daily "donation" for about 2,000 days to equal one billion dollars. It's going to cost way more than that to the local economy, not to mention the seafood restaurants that aren't even near the gulf that are losing business because people are worried about the oil.

[Karen Nicole Vedder]

12:40 AM on 06/11/2010

I sure hope that 1 million donation does not protect them from a class action lawsuit by all those that depend on the gulf for their livelihood. Even I am surprised they would be that cheap, not because I thought they had more integrity but because it's so pitifully insulting that I can't believe they would think it would appease anyone or make them look better. I am grateful that the wildlife are getting over 500k a day for the efforts to save them. But, B.P., please don't break your arm trying to pat yourselves on the back for your 'donations' which were 'above and beyond what you were obligated to do'. When someone who absolutely does not have to donate does, it is considered 'nice', but what you are calling yourselves generous for is the equivalent of someone burning down your house and then throwing you a blanket so you don't get too cold sleeping on a park bench.

[m black]

05:31 PM on 06/10/2010

Can you really call it a donation if you rightfully owe the money for all the long-term damage caused? That $1M is only an amoeba of an amount compared to the vast BILLION$ in oil profits BP has earned...If this is supposed to be good PR, I'm not impressed in the least.

[nickfromla]

03:37 PM on 06/10/2010

This is soooooo heartbreaking! Check out this Oiled dolphin fighting for its life: http://www.frequency.com/video/oiled-dolphin/99243

[paganmist]

02:02 PM on 06/10/2010

It's not called a "donation" when you owe someone the money in the first place!

[shastaman]

11:07 AM on 06/10/2010

It is well past time that we revisit "THE WORST PRESIDENT EVER"s

April 18 1977 speech to all of America

Jimmy Carter's "energy " address

And later Solar Panels installed onthe white house roof

As I heard someone say

" what was computer technology like in 1978 and look at the advanced machines we have now

What if instead of abandoning the sustainable pursuit in 1981 we had had parralel advancement in technology ?

Where could we be?

[-swift]

12:49 AM on 06/11/2010

President Carter also said that oil tankers should have double hulls, otherwise we would see unprecedented spills. A few years after the laughter died down, we had the Exxon Valdez.

[katielady]

07:09 AM on 06/14/2010

Clearly you haven't read all of the speech.. Carter acknowledged that we were not going to reduce the world's thirst for oil so the least we could do was to make drilling and transporting as safe as we could. He advocated alternative methods of energy and encouraged conservation. He was reviled in politics because he was an "outsider" and didn't kowtow to lobbyists and big oil. Any other presidents you can remember working on building homes for the poor??? or doing as much charity as he has??? I don't think so.. he was one of the only ones who left office without becoming far wealthier as a result of being president.. Give that some thought..
44 and his best crony, Cheney, set the stage for this disaster... They deregulated many oil drilling restrictions and lifted many environmental protections.. Stop watching so much FOX.. watch Rachel Maddow.. she has facts backing up her statements and states comments in their entirety.

[jugglergal]

11:02 AM on 06/10/2010

yeah that was the first good thing to come out of BP's mouth so far. Now they need to acknowledge the oil plumes so we can work on how to deal with them!!! Maybe Russia has the right idea.

[shastaman]

11:00 AM on 06/10/2010

Why do I get the feeling that what they REALLY mean is

PARTY ON HEFNER'S YACHT! ! ! ! !!

[Just ME in T]

08:07 AM on 06/10/2010

Thanks for the informative post.

Relearn (learn) just how many perfidious acts BP has been caught out in so far! Then ask yourself, "why are we entrusting the fixing of this entire catastrophe to them?"

BP is ‘doing everything it can’ (so it tells us) to stem the humongous geyser of oil, gushing from the severed pipe, beneath what once was the Deepwater Horizon Oil Rig in the Gulf of Mexico. The rig exploded and sank, on April 20, 2010 killing 11 workers and injuring 17 others.
http://just-me-in-t.blogspot.com/

[Globalchaos]

02:42 AM on 06/10/2010

I'm sorry - I forgot to mention the dividend was released AFTER the disaster.

Sleep well.

[Globalchaos]

02:38 AM on 06/10/2010

Oh goody - a tax deductible donation for them to declare when they file for bankruptcy...
No really, as of March 2009 they have 92,000 employees hired by them...
How many are actually WORKING the g0ddamn spill?

Also, they donated $1 million? Great - lets looks at some of BP's own numbers

Annual Results 2009:
Revenue - $246.1 Billion
Operating Income - $26.43 Billion
Net Income - $16.58 Billion
Total Assets - $236. Billion
Total Equity - $101.6 Billion

Even based off of just net income they donated exactly: 0.0060313% of their net.

Isn't that generous of them?

BTW, their last dividend was on May 5th: 84 cents a share.
Doesn't sound like much til you realize that's over 3.13 BILLION shares

Total Dividend Released: $2.692 BILLION

Total Donated vs. Dividend Released: 0.0371471025%

[katielady]

07:10 AM on 06/14/2010

sure hope shastaman reads this post...

[Christopher Daley]

01:29 AM on 06/10/2010

Gosh I might actually forgive them. (this is sarcasm)

www.csdaley.com

http://www.csdaley.com/2010/06/south-carolina-politics-is-awesome.html

[javajava]

12:05 AM on 06/10/2010

Keep you donations just pay for your ruinous actions.