Obama wants $2 billion in oil spills protection fund
President Obama has proposed $2.4 billion for oil spills mitigation and recovery projects, according to a draft of the president’s 2018 budget released Monday.
The administration would fund the projects through a special fund that would cover costs incurred during a spill, including cleanup and recovery.
The fund would also fund a “clean-up fund” to cover the cost of cleaning up oil spills.
The White House says the fund would be made up of oil spill-related grants and other funds to help communities recover from oil spills and to help the economy recover.
The proposal, which will go before Congress, comes as oil and gas producers have faced a shortage of clean water, an environmental threat and a growing population of people who want to drill for oil and drill for gas.
The draft budget proposal calls for $1.3 billion for spill mitigation projects, $800 million for environmental protection projects, and $750 million for clean-up and recovery costs.
“We’ve got to do our part to reduce oil spills,” the president said in a statement.
“This budget does not just protect our country, it also helps Americans who depend on it.”