By Scheagbe Mayumi Grigsby
On April 20, 2010, the Deepwater Horizon oil rig in the Gulf of Mexico burst into flames, dumping millions of barrels of oil into the Gulf. The incident killed eleven people and caused irreparable harm to the environment and local economy. Eventually, hundreds of plaintiffs filed suit against British Petroleum (BP) and others. A subsequent class action lawsuit resulted in a settlement of medical claims arising out of the spill and the ensuing clean-up effort amounted to approximately $7.8 billion. As of May 6, 2015, BP had paid approximately $5 billion to more than 62,000 businesses and individuals. On July 2, 2015, the U.S. Department of Justice announced that BP had agreed to pay the “largest environmental fine in U.S. history for the Gulf oil spill.” Pending judicial approval, BP has agreed to pay $18.7 billion to Louisiana, Mississippi, Texas, and Florida over 18 years.