BP Given 30 Days to Pay Oil Spill Settlement

NEW ORLEANS (CN) – BP has 30 days to pay oil spill settlements of nearly $1 billion to local governments across the Gulf Coast, U.S. District Judge Carl Barbier said in an order issued Monday. Included in the approximately $1 billion are lost tax revenues and other economic damages state governments blame on the April 20, 2010 Deepwater Horizon oil spill.
Most of roughly 500 local governments have accepted BP’s settlement, which was crafted by BP along with attorneys and local entities as part of a broader $18.7 billion agreement announced last month. The settlement will satisfy outstanding claims […]