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BP Lawsuit Settlement Expected to Bring Billions to Louisiana

Over five years after the Deepwater Horizon explosion and resulting oil spill, BP is finally close to finalizing a settlement that would send billions of dollars to Louisiana.

Amount of the BP Lawsuit Settlement

The details of the settlement will be worked out over the next month or so, but reports are that the settlement will send around $500 million per year to Louisiana over the next 15 years.  This money could be used to fund vital restoration efforts needed to protect Louisiana’s coastline from future land loss.

Claims Covered By the BP Lawsuit Settlement

This settlement is to resolve claims brought by the federal government and the five Gulf Coast states.

These claims include economic damages suffered by the states, payments mandated by the Oil Pollution Act, and fines assessed under the Clean Water Act. However, this settlement is separate from the earlier settlement between BP and the Department of Justice relating to criminal actions following the spill. That agreement will still send about $1.2 billion to Louisiana.

This settlement has also nothing to do with the personal injury and economic loss claims relating to the explosion and oil spill.

Reactions to the BP Lawsuit Settlement

The reaction to the settlement has been generally, though not unanimously, positive.

Not surprisingly, BP gave itself a pat on the back for getting the deal done. As BP’s chairman said:

“Five years ago we committed to restore the Gulf economy and environment and we have worked ever since to deliver on that promise. We have made significant progress, and with this agreement, we provide a path to closure for BP and the Gulf.” 

Environmentalists didn’t view the result quite so favorably. A spokeswoman for the environmental group Oceana criticized the settlement, claiming that BP got off too lightly. She believed that the Clean Water Act violations alone could have reached $13.7 billion. She also claimed that based on the payments made after the Exxon Valdez spill, BP should have paid an extra $30 million under the Oil Pollution Act.

New Orleans Maritime Lawyer

If we are lucky, we will never see a disaster like the Deepwater Horizon again. But, maritime accidents still happen far too frequently.

If you or a loved one have been injured while working offshore, The Mahone Firm is here to help. Call (504) 564-7342 to discuss your case with a New Orleans personal injury attorney today.

Mike Mahone

Mike Mahone

Mike Mahone is a personal injury and business litigation lawyer located in New Orleans, LA, and the sole practitioner of The Mahone Firm.

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