Ahead of Trial, Talk of a BP Settlement in 2010 Oil Spill

BP officials insist that they will go to trial, the first of which begins Monday. US Justice Dept. officials are offering to settle part of the claims against BP for the 2010 offshore rig explosion that dumped 4 million gallons of oil into the Gulf of Mexico. Settlement offer is for 16 billion dollars to pay fines for violating the Clean Water Act, penalties, and environmental damage that occurred in 5 states abutting the gulf. BP refuses to settle as they hope the number assessed at trial will be lower than the settlement offer. BP will also have many more trials to assess damages owed for economic impact damages in the 5 affected states. 

To read the full article, click the link: http://www.nytimes.com/2013/02/24/business/energy-...