More than five years ago, an explosion on the Deepwater Horizon oil well drilling platform started the largest marine oil spill in U.S. history. Tragically, eleven people lost their lives due to the explosion. This week, BP, the United States, and the five Gulf States have agreed to a settlement resolving claims for federal civil penalties and natural resource damages related to the 2010 oil spill. The settlement is now set forth in a proposed Consent Decree that includes up to $8.8 billion for natural resource damages stemming from the spill. This brings to a close one major chapter in the disaster that spilled 134 million of barrels of oil into the Gulf of Mexico over 87 days and opens a new chapter that will support long-term restoration of Gulf resources.
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