Jul 30, 2010 12:57 PM by Melissa Canone
NEW ORLEANS (AP) - BP says it has picked a charitable foundation
in Louisiana to administer a $100 million fund for oil workers
struggling because of a federal moratorium on deepwater drilling.
The Rig Worker Assistance Fund will be administered through the
Gulf Coast Restoration and Protection Foundation, an affiliate of
the Baton Rouge Area Foundation.
BP PLC announced last month that it would set up the fund after
the Interior Department declared a six-month moratorium on
deepwater drilling in the Gulf of Mexico. The moratorium came after
the April 20 explosion of the rig Deepwater Horizon.
Foundation president John Davies says the organization is
creating guidelines to manage the program and expects to begin
taking applications for grants by Sept. 1.