Bp oil spill how much it cost




















Environmental advocates remain concerned, meanwhile, that even the huge amount of money BP has disgorged will not be enough to repair all of the long-term damage. A number of large business claims are still pending in federal court. And more recent lawsuits filed by hundreds of individuals with late-occurring health effects are still pending. The group includes BP itself; federal judges; federal, state and local governments, and an environmental organization that got a share of criminal settlement money.

After the oil stopped flowing, BP agreed to allow the remainder of the money to be used to help rebuild those same islands. The money will be paid in installments through Alabama, Florida, Mississippi and Texas received smaller shares. A new wide-ranging scientific report has concluded that the chemicals used to cleanup the massive Deepwater Horizon oil spill remain an e…. Environmental groups are suing federal regulators for failing to establish rules limiting the use of chemical dispersants during oil spills, t….

The facility was dismantled in March , when BP agreed to settle more than , still-pending individual and business claims filed in courts across the country that were consolidated into one class-action case overseen by U. District Judge Carl Barbier Jr. Barbier appointed separate economic and medical claims supervisors to handle an avalanche of claims.

Louisiana companies submitted about a third of the total claims, though BP has not provided a state-by-state breakout of how the money was paid. Under another program, cleanup workers and residents of areas closest to the Gulf could file claims for medical costs related to specific conditions included in the class-action settlement.

The well leaked for 87 days, pouring at least 3. Mr Gheit said BP "basically gave birth to another company". The cost includes medical costs, property damage, economic losses, its own clean-up costs and a settlement with the Securities and Exchange Commission.

BP said it believed any further outstanding spill-related claims "will not have a material impact" on BP's finances.

A Christian Science Perspective. Monitor Movie Guide. Monitor Daily. Photos of the Week. Technical experts crowd a conference room at British Petroleum offices in Houston on May 2. The energy company has established a crisis center at its west Houston campus where company officials say experts in oil drilling are working around the clock to figure out how to stop oil into leaking the Gulf of Mexico from the Deepwater Horizon incident.

May 3, By Husna Haq Correspondent husnahaq. You've read of free articles. Subscribe to continue. The Santa Barbara oil spill helped prompt passage of the Clean Water Act in , which transformed rivers and streams that were open sewers into fishable and swimmable waters. The Exxon Valdez spill in resulted in the Oil Pollution Act of , which made it possible for companies like BP to pay civil penalties for oil spills in addition to criminal fines.

The law was silent about drilling safety and future oil spills. In terms of new regulations, the initial response was promising. The Obama administration imposed a brief moratorium on offshore drilling, reorganized the relevant offices within the Interior Department and enacted safety rules to prevent future oil spills. But the Trump administration has reversed many of these rules and pushed to expand offshore drilling, even though this policy is unpopular in many coastal states and faces significant legal obstacles.

The net result, 10 years after the Gulf oil spill, is that the U. Today the oil industry is more committed to well containment efforts than it was in , but there is no indication that a blowout today would be any less of a disaster.

BP paid for its reckless conduct in the Gulf. The question that remains a decade later is when the U.



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