BP to Pay $18.7 Billion for Deepwater Horizon Oil Spill

New York Times ^ | July 2, 2015 | By CAMPBELL ROBERTSON, RICHARD PÉREZ-PEÑA and CLIFFORD KRAUSS

[Brad from Tennessee]

NEW ORLEANS — The federal government and the Gulf Coast states have reached a tentative deal with the British oil company BP for it to pay about $18.7 billion, the largest environmental settlement in American history, to compensate for damages from the 2010 Deepwater Horizon oil spill, federal, state and company officials said Thursday.

An American BP subsidiary, BP Exploration and Production, will pay at least $7.1 billion, and possibly more, to the federal government and the states of Louisiana, Alabama, Mississippi, Texas and Florida, for damage to natural resources; $5.5 billion in penalties to the federal government for violation of the Clean Water Act; $4.9 billion to the states to compensate for harm to their economies; and up to $1 billion to more than 400 local governments.

“This is a landmark settlement,” Gov. Robert Bentley of Alabama said at a news conference in Montgomery. “It is designed to compensate the state for all the damages, both environmental and economic.”

[minnesota_bound]

A bit excessive plus the money will never go to the actual victims.

[upchuck]

Here we go again. Massive fines which will be paid by the stockholders. Who is going to jail?    {CRICKETS}

[vimto]

They could buy Greece for that!

[TigersEye]

$5.5 billion in penalties to the federal government for violation of the Clean Water Act;

IOWs $5.5 billion for a tribute to the FedMob not a penny of which goes to paying for any damages.

[minnesota_bound]

Someone is getting a lot of ‘greece’ with that money....

[free_life]

We’ll make you a deal you can’t refuse, the American mafia govt.

[minnesota_bound]

From Rush today: “The amount of oil that was spilled by BP in the Gulf of Mexico as the size of Cowboys Stadium. Do you know how big Cowboys Stadium is compared to the Gulf of Mexico? The spilled oil in the Gulf of Mexico would be like pouring a 24oz can of beer into Cowboys Stadium. You wouldn’t even notice it.”

[MaxMax]

Damages to what?

The Cult Media said the earth would be covered in their oil and women
and children would die. Damage to what exactly? Oil seeps onto our
coastlines every day and it's not caused by exploration.