BP establishes $360M escrow account to pay for Louisiana sand berms to protect against oil

BP establishes escrow fund for La. sand berms

GRAND ISLE, La. — BP is establishing a $360 million escrow account to fund a project to build six sand berms that Louisiana Gov. Bobby Jindal hopes will protect the state’s wetlands from the growing Gulf of Mexico slick.

The company said late Thursday it approved the accounts. The announcement came hours after Jindal urged the British oil giant to start doling out the payments immediately.

The governor appeared at a Grand Isle government center with a demand for BP: “Sign your own contract and get out of the way.

The federal government on Wednesday ordered BP to pay for the project, which Jindal and other state officials have long sought.