Deepwater Horizon: BP to pay $4 Billion in settlement

It’s been two years since the environmental disaster that was the Deepwater Horizon oil spill and today we finally have news of a settlement. From the Washington Post we learn that BP has agreed to plead guilty to manslaughter, environmental crimes and obstruction of Congress. BP will also be paying $4 billion in penalties.

“Holder also announced a separate 23-count criminal indictment — including charges of seaman’s and involuntary manslaughter — against the two top-ranking BP supervisors on the Deepwater Horizon drilling rig where a blowout occurred April 20, 2010, sinking the rig and killing 11 workers.”

The environment around the gulf coast will be in recovery for decades. From the eleven lives lost to the countless numbers of local species sickened and killed, we’re glad to see that some justice has finally been served. The federal government must become far more vigilant if it is to ensure that something like this tragedy never happens again.

Besides the environmental impact the economic fallout from the Deepwater Horizon oil spill is estimated to cost the region 8.7 billion and close to 22,000 jobs could be lost.