Final Approval is Close for Settlement for 2010 BP Oil Spill
The huge $20 billion BP oil spill settlement involving BP, the federal government and the five Gulf Coast states is moving closer to final approval.
Federal lawyers have formally asked a judge in New Orleans to accept the agreement which was announced last July. The settlement would resolve years of legal fighting over damage from the 2010 spill in the Gulf and 1.5 billion of that money is coming to the Magnolia State.
In total, the settlement included 5.5 billion in civil penalties and billions more to cover environment damage and claims by the states and local governments.