BP pledges $500 million to study oil spill effects, response

BP PLC will commit up to $500 million over 10 years to research the effects and response to the oil spill in the Gulf of Mexico. 

"BP has made a commitment to doing everything we can to lessen the impact of this tragic incident on the people and environment of the Gulf Coast," Tony Hayward, the company's head, announced Monday on the company's website. "This will be a key part of the process of restoration, and for improving the industry response capability for the future. This is an urgent need to ensure that the scientific community has access to the samples and the raw data it needs to begin this work."

BP is taking plenty of heat for its inability to get the leak under control, creating what is expected to amount to the nation's largest-ever oil spill with potentially massive economic and environmental damages. 

The research will examine how the oil dispersed and behaved on the seabed and water surface, the effects of dispersant on the oil and, among other things, what can be done to improve technology to help contain and clean up the oil. 

The first grant will go to Louisiana State University because of its experience in dealing with the oil and gas industry and knowledge of the Gulf. 

"The first part of the program is about obtaining and analyzing samples and assessing immediate impacts," said Christopher D'Elia, professor and dean of LSU's School of Coast and Environment.