Overview of Deepwater Horizon Oil Spill of 2010
The Deepwater Horizon or British Petroleum (BP) oil spill of 2010 is the largest oil spill in history resulting from the April 20, 2010 explosion on the Deepwater Horizon oil rig located about 41 miles off the coast of Louisiana. The courts eventually ruled that 3.19 million barrels of oil leaked into Gulf waters by the time the well was capped on July 12, 2010. Because of the spill’s detrimental impacts, BP and the other liable entities have paid billions of dollars for:
In addition to the above listed payments resulting from the spill, BP also agreed to pay $5.9 billion for economic damage claims and $5.5 billion for RESTORE Act civil and administrative penalties.
Economic Damage Claims:
The five Gulf States (Texas, Mississippi, Alabama, Louisiana, Florida) and local governments have received $5.9 billion in economic claims resulting from an April 5, 2016 court approved settlement. These claims included $7.1 million for Pinellas County to spend as the County chooses. In its continued effort to engage citizens, the Pinellas County Board of County Commissioners is inviting residents to provide additional input by June 30, 2016. Submit your ideas..
RESTORE Act Penalties:
The RESTORE Act of 2012 specified how penalty dollars resulting from Clean Water Act (CWA) water pollution violations are to be directed. They must be spent on programs, projects, and activities that restore and protect the environment and economy of the Gulf Coast region. The RESTORE Act allocates 80% of CWA penalties from the Deepwater Horizon oil spill to the Gulf Coast Restoration Trust Fund.
The Gulf Coast Restoration Trust fund dollars will be allocated as described below.
Frequently Asked Questions:
Sea Grant and the Gulf of Mexico Research Initiative responded to five common questions from tourists about the aftermath of the oil spill.