The Department of Justice announced last week that it had reached a settlement with BP regarding the 2010 Deepwater Horizon incident. The energy company will pay $4 billion in criminal fines and penalties to settle its role in the Gulf of Mexico oil spill. Included in that sum is $2.4 billion for environmental restoration and conservation in the Gulf region, which will be administered by the independent National Fish and Wildlife Foundation. BP will also provide $350 million to the National Academy of Sciences to support a 30-year initiative to develop oil spill prevention and response technologies, research, education, and training.
The settlement, which still needs to be approved by a federal judge, will be separate from the civil fines BP faces under the Clean Water Act. The company could pay up to $20 billion under that law, funds that would be used for ecological and economic restoration activities in the Gulf.
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