Where Will BP’s $18.7 Billion Deepwater Horizon Settlement Go?
See also: The True Value of BP’s $18.7 Billion Settlement by Michael Conathan
The majority of money from the record-breaking settlement between the U.S. Department of Justice and BP will flow back to the Gulf Coast with nearly $12 billion ticketed for economic and environmental restoration purposes. But to understand how this money will ultimately be spent, one must first know which entities will receive funds and what its eligible uses will be. This interactive chart breaks down the $18.7* billion into its different components, making it easier to understand just how far these reparations will go toward helping to rebuild the region’s vibrant coastal ecosystems and communities.
Michael Conathan is the Director of Ocean Policy at the Center for American Progress. Andrew Lomax is the Data Visualization Producer at the Center.
* Author’s note, April 5, 2016: The final settlement approved by Judge Carl Barbier on April 4, 2016 was for $20.8 billion. According to a statement from BP as reported in The New York Times, this amount will not require the company to spend more than the $18.7 billion initially agreed to but “included amounts previously spent or disclosed by the company.”
The positions of American Progress, and our policy experts, are independent, and the findings and conclusions presented are those of American Progress alone. A full list of supporters is available here. American Progress would like to acknowledge the many generous supporters who make our work possible.
Director, Ocean Policy
Data Visualization Producer