Friday Request from Chairman Markey Leads to Huge Commitment from BP Today; Halliburton, Transocean Should Also Contribute, Says Chairman

WASHINGTON (May 24, 2010) – Following a written request on Friday from Rep. Edward J. Markey (D-Mass) to the companies responsible for the oil spill in the Gulf of Mexico to establish a fund for scientists and researchers, BP today pledged to donate $500 million to create such a fund. This fund follows the intent of Rep. Markey’s suggestion to assist independent, objective scientists in developing solutions to halt the flow of oil, monitor the spill and assess the ecological impacts on the Gulf.

“The more oil that is spilled, the more we will need our best minds working on this problem. Science will help plug this well and end this crisis, and this fund will help scientists plug the holes in our knowledge of the accident, the solutions, and the ecological damage that will result from this disaster,” said Rep. Markey, chair of the Select Committee on Energy Independence and Global Warming and the Energy and Environment Subcommittee in the Energy and Commerce Committee.

On Friday, Rep. Markey sent a letter to BP America CEO Lamar McKay, Transocean CEO Steve Newman, and Halliburton CEO David Lesar. To view a copy of the letter, please CLICK HERE.

Rep. Markey called this scientist fund the Surface and Underwater Research Fund, or “SURF”, and asked the three companies involved in the spill to provide the money for the fund. While BP has committed to donating these funds today, Halliburton and Transocean have yet to do so.

“This fund should not decrease the liability of these companies, but it will help increase the potential livability of the Gulf of Mexico following this spill,” said Rep. Markey.

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