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.
Showing posts with label Rig Workers. Show all posts
Showing posts with label Rig Workers. Show all posts
Wednesday, September 22, 2010
Friday, July 30, 2010
BP (NYSE:BP) Oil Making $100 Million Fund For Rig Workers
BP (NYSE:BP) oil said today that it is planning on beginning a $100 million fund for unemployed rig workers. It will be a charitable fund for those workers experiencing economic hardship caused by the drilling moratorium forced by the United States Government.
BP's Managing Director Bob Dudley said, "The Baton Rouge Area Foundation has a strong track record of meeting community needs, and we are quite confident the foundations will respond effectively to assist the rig workers who today are struggling to make ends meet."
On June 16th BP said they planned on setting up a voluntary fund as a gesture of good will for the people of the Gulf Coast Region. What's being called The Rig Worker Assistance Fund will be handled by The Gulf Coast Restoration and Protection Foundation.
Foundation president and CEO, John G. Davies said, "The foundation is committed to moving as quickly as we can to write grants from this donation by BP. This agreement with BP came together over about three weeks, and we are moving rapidly to create the guidelines related to this grant program. We expect to release all the details of the program within two weeks, than to begin taking applications for grants September 1st."
BP's Managing Director Bob Dudley said, "The Baton Rouge Area Foundation has a strong track record of meeting community needs, and we are quite confident the foundations will respond effectively to assist the rig workers who today are struggling to make ends meet."
On June 16th BP said they planned on setting up a voluntary fund as a gesture of good will for the people of the Gulf Coast Region. What's being called The Rig Worker Assistance Fund will be handled by The Gulf Coast Restoration and Protection Foundation.
Foundation president and CEO, John G. Davies said, "The foundation is committed to moving as quickly as we can to write grants from this donation by BP. This agreement with BP came together over about three weeks, and we are moving rapidly to create the guidelines related to this grant program. We expect to release all the details of the program within two weeks, than to begin taking applications for grants September 1st."
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