BP offers $500 million to study oil spill impact

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BP has committed up to $500 million to studying the impact its massive oil spill will have on the animals and environment of the Gulf of Mexico and the Gulf Coast.The company on Monday announced a 10-year effort to probe how the thousands of barrels of oil that have escaped into the open water will affect the surrounding wildlife. Rep. Ed Markey (D-Mass.) asked for the fund to be created last week in a letter to BP, Transocean and Halliburton officials.

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