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Home > "BP Settlement Will Cost $20.8 Billion, Justice Department Says"

"BP Settlement Will Cost $20.8 Billion, Justice Department Says" [1]

"The Justice Department unveiled final details of a record-setting civil settlement with BP over the 2010 oil spill in the Gulf of Mexico, a deal the department said would ultimately cost the London-based oil giant $20.8 billion.

'The historic civil penalty also sends a clear message of accountability for those who pollute the U.S. environment,' said Adm. Paul Zukunft of the U.S. Coast Guard Commandant.

The highlights of the settlement include $8.1 billion in natural resource damages, including $1 billion BP agreed to pay earlier; $5.5 billion plus interest for Clean Water Act penalties; and $5.9 billion under a separate agreement to cover state and local government claims."

Steven Mufson reports for the Washington Post October 5, 2015. [2]

SEE ALSO:

"The BP Oil Spill Settlement: What They're Saying" (New Orleans Times-Picayune) [3]

"BP Settlement in Gulf Oil Spill Is Raised to $20.8 Billion" (New York Times) [4]

Economy & Business [5]
Energy & Fuel [6]
Laws & Regulations [7]
National (U.S.) [8]
Public [9]
Source: Wash Post [2], 10/06/2015
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Source URL:https://www.sej.org/headlines/bp-settlement-will-cost-208-billion-justice-department-says

Links
[1] https://www.sej.org/headlines/bp-settlement-will-cost-208-billion-justice-department-says [2] http://www.washingtonpost.com/business/economy/bp-settlement-will-cost-208-billion-justice-department-says/2015/10/05/abb82b1e-6b78-11e5-b31c-d80d62b53e28_story.html [3] http://www.nola.com/environment/index.ssf/2015/10/the_bp-government_oil_spill_se.html [4] http://www.nytimes.com/2015/10/06/business/bp-settlement-in-gulf-oil-spill-is-raised- [5] https://www.sej.org/category/topics-beat/business [6] https://www.sej.org/category/topics-beat/energy [7] https://www.sej.org/category/topics-beat/laws [8] https://www.sej.org/category/region/national [9] https://www.sej.org/taxonomy/term/81