State Net Capitol Journal: Gulf Oil Spill Settlement Swells

The U.S. Justice Department has reached a $20.8 billion final settlement with BP over its role in the 2010 Gulf of Mexico oil disaster. That sum is $2.1 billion bigger than the $18.7 billion initial settlement announced in July, which was already the largest environmental settlement, as well as the largest civil settlement with a single entity, in U.S. history.

U.S. Attorney General Loretta Lynch said the filing of the final settlement was “a major step forward in our effort to deliver justice to the gulf region in the wake of the Deepwater Horizon tragedy - the largest environmental disaster our nation has ever endured.” She also said the higher total was the result of a “refining of the numbers” of the initial settlement.

The settlement includes $8.8 billion for restoration projects in the five gulf states - Alabama, Florida, Louisiana, Mississippi and Texas - over the next 15 years. Louisiana, the hardest hit of those states, would receive $5 billion of that amount. (NEW YORK TIMES)

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