The Deepwater Horizon oil rig burns in the Gulf of Mexico in April 2010. Oil company BP has a settlement agreement with five Gulf states. (Gerald Herbert/Associated Press) BP and five Gulf states announced an $18.7 billion settlement Thursday that resolves years of legal fighting over the environmental and economic damage done by the energy giant’s oil spill in 2010.
The settlement money will be used to resolve the Clean Water Act penalties; resolve natural resources damage claims; settle economic claims; and resolve economic damage claims of local governments, according to an outline filed in federal court. The settlement involves […]