A stronger and healthier Gulf Coast is in sight
BP’s Deepwater Horizon disaster settlement will finance one of the largest conservation efforts ever.
As millions of Texans prepared for an extended holiday weekend, we received news that promises to have an impact on our region for generations to come: BP has agreed to pay $20.2 billion in damages and penalties as a result of the 2010 Deepwater Horizon oil spill. Texas will receive approximately $788 million of those funds for conservation and restoration.
The significance of this money cannot be overstated. Deepwater Horizon was the single-largest, man-made environmental marine disaster in United States history. Five years after 11 lives were lost, after it destroyed livelihoods, damaged fragile ecosystems and disrupted communities across the entire Gulf Coast, many are still grappling with its impacts. The short-term damage was immediate: massive underwater tar mats, polluted beaches and contaminated coastal marshes, and acres of spoiled bird, wildlife and marine habitat. The long-term consequences remain unknown.
But here’s what we do know: This settlement offers the opportunity to invest in the type of wholesale restoration the Gulf of Mexico desperately needs.
In the wake of the spill, community, environmental and scientific organizations have worked in concert with state, federal and local governmental organizations to prioritize restoration and conservation efforts. Of the $788 million Texas will receive, the lion’s share — approximately $600 million — will be dedicated solely to conservation. There has been unanimous agreement within the environmental community that our restoration efforts should focus on six areas: coastal habitat protection and restoration, securing freshwater inflows to support the productivity of coastal bays and estuaries, oyster reef restoration, sustainable fisheries management, protecting vulnerable and endangered marine species, and enhanced monitoring and research.
Working to restore a body of water that cuts across all geographic and political lines can be complex — and expensive. In the wake of this announcement, many people wondered: Is it enough? Does the settlement truly compensate for the spill’s devastating impacts on the ecology, economy and communities of the Gulf ?
Given the significance of the Gulf of Mexico, and its importance to our shared livelihood, we could debate that question forever. While there are still many details to learn about this agreement, we should focus now on the bigger picture. In Texas, this level of conservation investment is unprecedented. Combined with money from previous settlements, the Texas Gulf Coast will ultimately benefit from more than $1 billion in dedicated conservation funding.
The depth and breadth of this settlement is important and vital to the restoration and health of what is arguably our country’s hardest working body of water. The Gulf region produces more than a third of the seafood Americans eat, including 60 percent of our oysters and more than 80 percent of our wildcaught shrimp. It is also home to seven of the 10 busiest shipping ports in the country and provides critical habitat for 15,000 species of plant, animal and marine life. Yet it has lost nearly 50 percent of its wetlands, 60 percent of its seagrass beds and half of its oyster reefs. In order to continue providing this incredibly diverse set of goods and services, the Gulf needs our help.
We have an unparalleled opportunity to invest in the future of the Gulf Coast. Like people, nature is resilient. We believe our beloved Gulf of Mexico will emerge stronger and healthier.