Wednesday, September 22, 2010

BP (NYSE:BP) Rig Worker Fund Not Drawing Many People

The $100 million fund set up by BP (NYSE:BP) to pay for workers out of a job because of the Obama Gulf oil moratorium has drawn relatively few respondents, as only about 356 workers have applied for grants.

It seems the reasoning behind it is it's either not known too much, as there hasn't been much media coverage, or the possibility most employers have retained their workers despite the moratorium.

Expectations were as many as 9,000 people would seek the grants, which are offered in a range of $3,000 to $30,000.

Now the charity will move to the next stage and will offer support workers of the industry to apply for the grants. Those serving the sector, like supply boats, will be able to receive grants now.

BP finally permanently plugged the oil well after temporarily stopping the oil leak in July.

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