Tags: US | Gulf | Oil | Spill | Barbour

Miss. Gov.: $20B Escrow by BP Might Hurt, Not Help

Wednesday, 16 Jun 2010 07:04 PM

Mississippi Gov. Haley Barbour says he's not sure it was a good idea for the federal government to make BP put $20 billion into escrow to compensate victims of the Gulf of Mexico oil spill.

Barbour says BP needs to use its money to drill oil wells and produce revenue.

President Barack Obama insisted BP set the money aside, and the company agreed Wednesday. Millions of gallons of oil have gushed into the Gulf since a BP well ruptured eight weeks ago off the Louisiana coast.

The Republican governor said he expects BP to pay for all losses, but doesn't know whether having an escrow account helps or hurts the chances that people in Mississippi will be compensated for losses from the disaster.

(This version CORRECTS APNewsNow. Corrects to $20B in headline.)

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