Deepwater Horizon Oil Spill: Recent Activities and Ongoing Developments
Deepwater Horizon Oil Spill: Recent Activities and Ongoing Developments, January 31, 2013
“In the wake of the explosion of the Deepwater Horizon offshore drilling rig in the Gulf of Mexico on April 20, 2010, the federal government, state governments, and responsible parties faced an unprecedented challenge. An oil discharge continued for 84 days, resulting in the largest oil spill in U.S. watersestimated at approximately 206 million gallons (4.9 million barrels)…To date, BP has paid over $10 billion to the federal government, state and local governments, and private parties for economic claims and other expenses, including response costs, related to the oil spill. BP estimates that a recently approved settlement will lead to an additional $7.8 billion in payments to private parties.
BP and other responsible parties have agreed to civil and/or criminal settlements with the Department of Justice (DOJ). Although some are awaiting court approval, settlements from various parties, to date, total almost $6 billion. BPs potential civil penalties under the Clean Water Act, which could be considerable, are not yet determined.”