$70 Billion?
The accord will cost BP over $20 billion when other payments for natural-resource damages and other state and federal claims are factored in. It also comes on top of billions already spent on response, clean up and compensation, pushing BP to raise its budget to pay for the spill to $53.8 billion. That still may not be enough.
“It is realistic to price BP’s total cost, including all remaining claims that haven’t been covered by settlements, at $70 billion – all in,” Berg said.
The agreement is the “largest settlement with a single entity in American history,” U.S. Attorney General Loretta E. Lynch said.
The agreement in principal will be subject to public comment before court approval, according to the Justice Department press release.
Article Appeared @http://www.bloomberg.com/news/articles/2015-07-02/bp-said-to-settle-2010-gulf-oil-spill-claims-with-u-s-states