Obama says BP creating $100 M fund for unemployed oil workers

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Obama says BP creating $100 M fund for oil workers

WASHINGTON — President Barack Obama says BP has agreed to establish a $100 million fund to compensate unemployed oil rig workers affected by a six-month moratorium on deepwater drilling imposed in the wake of the Gulf oil spill.

Obama said the fund is in addition to $20 billion the company will set aside to pay victims of the massive Gulf spill, the nation’s worst environmental disaster.

Obama imposed a six-month moratorium on new deepwater drilling last month while a commission reviews the April 20 explosion of the Deepwater Horizon rig.