The Justice Department and five states recently (in October) settled civil claims against BP for $20 billion related to the Deepwater Horizon disaster that resulted in 134 million gallons of oil being spilled into the Gulf of Mexico. The settlement provides a wide range of benefits for residents and businesses throughout the Gulf region. The company also was forced to participate in a monumental clean-up effort designed to replenish water quality, wildlife and habitat in the region. The settlement of the civil claims promises both environmental and economic benefits throughout the area impacted by the spill.

BP acquiesced to a number of other requirements. BP is required to pay $5.5 billion in financial penalties under the Clean Water Act and disburse almost $5 billion among five states that include Mississippi, Alabama, Texas, Louisiana, and Florida. The company also must pay $8.1 billion toward natural resource damage. The funds will be used for restoration projects involving fish, birds, coastal wetlands and similar natural resources.

In addition to these funds, $600 million will be paid to cover costs like state and federal reimbursement claims related to the massive oil spill. The financial settlement follows a Deepwater Horizon Natural Resources Trustees’ report that designated the devastation caused by the spill as “unprecedented” in scope. According to the report, the oil from the blown-out well was found hundreds of miles from the site of the spill. The scope of the damage is reflected by the fact that the slick substance was uncovered on over 400 square miles of the sea floor. Further, the environmentally toxic substance washed up onto over 1,300 miles of coastal shoreline throughout the Gulf Coast region. The long-term ecological impact is hard to estimate because of toxicity to mammals, fish, turtles, plankton, and birds. The oil will cause significant fatalities and disease to affected species along with impaired reproduction.

The impact on residents of the Gulf Coast has recently been highlighted by Gina McCarthy, Environmental Protection Agency Administrator, “[T]he spill drove Gulf communities into a period of painful uncertainty, forcing questions that no American family should ever have to ask: Is my food safe to eat? Is it dangerous for my kids to play near the shore? Is the air still clean to breathe? And will my businesses ever recover?

These questions by tourists and other customers of Gulf businesses reflect the lingering financial consequences for many Gulf Coast business owners. Fortunately, you might have a right to a claim for your financial loss caused by the BP Deep Horizon spill. If you have questions about your right to pursue a claim for compensation, we invite you to contact us and speak to an experienced Oil Spill Claims Attorney at Barrett Law. Our Mississippi BP Deep Horizon Claims Lawyer has successfully represented many businesses that were financially harmed by this massive spill. At Barrett Law, we are here to help. Contact our firm today at 800-707-9577 to schedule your free consultation, so we can answer any questions you may have regarding filing your claim.