BP Puts Its Money Where Its Mouth Is

BP agrees to $20 billion escrow fund to compensate beleaguered Gulf Coast region.

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BP finally puts its money where its mouth is. The besieged oil company has agreed to put $20 billion in an escrow fund to pay for claims in the Gulf of Mexico oil disaster. BP made the offer during its meeting with President Obama to address how to resolve the oil spill and compensate those impacted by it. The fund will be controlled by an independent third party, not BP. $20 billion? Now, that's one heck of an olive branch. Let's just hope it's enough.

SOURCE: http://www.cnn.com/2010/US/06/16/gulf.oil.disaster/index.html?hpt=T1&iref=BN1