BP to sell spill oil from Gulf well

Thick oil from the BP Deepwater Horizon oil spill floats on the surface of the water and coats the marsh wetlands in Bay Jimmy near Port Sulphur, Louisiana, Friday.

CAPTION

By Saul Loeb, AFP/Getty Images

Fill her up with spill oil? When BP sells the crude from the leaking well in the Gulf of Mexico, the oil could end up at gas stations.

BP said it would use the net revenue made from selling the crude to fund wildlife protection efforts in four Gulf Coast states, the Associated Press reports.

The company did not explain the specifics of how much money will be put into the fund. BP said in a recent press release the amount will be based on how much oil is collected and the price at which the oil is sold.

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Since the collected oil contains a high concentration of methanol, BP expects that each barrel will sell at a lower price than regular crude.

Oil taken from the well will be indistinguishable from other oil on the market, Louisiana State University professor Julius Langlinais told the AP.

(Posted by Jessica Durando)