Gulf states reach $18.7B settlement with BP over oil spill

Deepwater-horizon

Image: Gerald Herbert, File/Associated Press In this April 21, 2010 file photo, oil can be seen in the Gulf of Mexico, more than 50 miles southeast of Venice on Louisiana’s tip, as a large plume of smoke rises from fires on BP’s Deepwater Horizon offshore oil rig. NEW ORLEANS — Officials in Florida, Alabama, Mississippi and Louisiana announced an $18.7 billion settlement with BP on Thursday that resolves years of litigation over the 2010 Gulf of Mexico oil spill, one of the worst environmental disasters in the U.S.

The settlement announcement comes as a federal judge was preparing to rule […]