Replies to post #9520 on The Rising Influence of Rising Affluence

[DewDiligence]

BP settles all Deepwater-Horizon federal/state claims for $18.7B payable over 18 years:

http://www.wsj.com/articles/bp-agrees-to-pay-18-7-billion-to-settle-deepwater-horizon-oil-spill-claims-1435842739

The settlement would add at least $10 billion to the $44 billion BP has already incurred in legal and cleanup costs, pushing its tab for the spill higher than all the profits it has earned since 2012. But the payments would be stretched out over 18 years at around $1.1 billion annually, softening the blow to the company’s cash flow. Much of the penalties would likely be tax-deductible, analysts noted.

The money largely will end up in the hands of the states, which can use it for environmental remediation and economic development.