Six years after the Deepwater Horizon oil spill led to one of the largest environmental disasters in American history, we have some good news. At the beginning of April, a federal judge approved a settlement that will result in more than $14 billion for restoration of the Gulf of Mexico's ecosystems. We would like to thank state and federal officials, local leaders, advocates and other supporters for getting us to this point. From a disaster of historic proportions, we now have an unprecedented opportunity to invest in Texas' natural assets.
The more than $800 million that will come to Texas from this settlement can be a boon to 367 miles of coastlines. Texans who call the coast home value the natural wonder of the barrier islands, bays and estuaries that dot its length. However, these places are important for far more than their beauty. Healthy coasts protect residents from hurricane storm surges, making communities more resilient to natural disasters. Healthy coasts boost the tourism and fishing industries, both of which provide tens of thousands of jobs and billions in annual revenue.
However, the Texas coastline faces a number of threats, from substantial loss of coastal wetlands to inadequate levels of fresh water flowing into our bays and estuaries. Restoring the estuaries, bays and shorelines is not just about addressing environmental damage, but about protecting livelihoods, communities and a way of life. That's why the Walton Family Foundation and Houston Endowment have been strong supporters of this work for years, and it is why we are so thankful to state leaders and advocates who have worked together effectively to ensure we have the resources to build a healthier, more sustainable coastline.
Officials and community members in Texas and across the Gulf insisted that the responsible parties be held accountable for their damage, secured a deal that will restore coastal economies and the environment, and built a roadmap for restoring the region's shorelines. This is truly government at its best - acting collaboratively and efficiently in the best interest of people to deliver benefits of all kinds to damaged coastal communities. We acknowledge leadership from the Texas Commission on Environmental Quality, Texas Parks and Wildlife, the General Land Office and others in this effort.
This precedent of collaboration is all the more important as the settlement dollars begin to hit the ground. So many have worked hard to build the blueprint for a restored Gulf that transcends state boundaries and the lines between public and private sectors, but there is far more to do to reach our shared goals. In particular, it is important that state leaders ensure transparency when allocating settlement funds and are loyal to the shared roadmap for restoring our coast. We also urge them to prioritize projects that demonstrate collaboration among a broad range of partners and leverage investments from local governments and foundations. Finally, we encourage state leaders to consider funding innovative approaches that are potentially transformative, such as market-based strategies for conserving land and water resources.
Millions of residents stand to benefit from wisely using these dollars. We have a chance to rebuild the economy and environment of one of the country's most important coastal regions - the entire Gulf of Mexico. We hope that all Texans share in our enthusiasm for the strong leadership we've seen over the last six years, and will communicate their support for the judicious use of settlement funds going forward.
This article originally appeared in the Houston Chronicle.
