Tax Windfall for Deepwater Horizon Settlement a ‘Major Coup for BP’


"Making the American taxpayer pick up BP’s bill for cleaning the disastrous Deepwater Horizon spill is an outrage," presidential hopeful Bernie Sanders tweeted on Monday. (Photo: In the six years since BP ‘s catastrophic Deepwater Horizon spill poured millions of gallons of oil into the Gulf of Mexico, environmentalists, Gulf coast residents, and politicians have clamored for justice. But Monday’s historic $20 billion settlement against the oil giant is not what they hoped it would be.

The settlement’s terms are so generous to BP that it amounts to a tax break worth billions—as some observers predicted .

A whopping $15 billion […]