BP Oil Spill Settlement Reached With Gulf Coast Residents

Deepwater Horizon Response/CC BY-ND 2.0

A settlement has been reached in the BP oil spill civil trial with the more than 100,000 victims pressing their claim. Claims by the US government for violations of the Clean Water Act have not been settled.

NPR reports that there will be no cap on compensation for the plaintiffs, though BP says is expects to pay out roughly $7.8 billion, coming from a $20 billion compensation fund it created to cover such an eventuality. $2.3 billion of that is expected to go to help the seafood industry, LA Times reports.

Individual plaintiffs can opt out of the settlement and sue BP directly, however.

People not already included in the settlement are able to come forward at a future date and claim compensation.

None of this addresses the possible $17 billion in fines facing BP for Clean Water Act violations, or claims filed against BP by the five Gulf Coast states.

Tags: BP | Oil | Oil Spill