Settlement from BP oil spill details outlined

Settlement from BP oil spill details outlined

POSTED: Friday, November 16, 2012 - 7:00pm

UPDATED: Friday, November 16, 2012 - 7:04pm

So where exactly will the money be going after yesterday's historic settlement from the BP oil spill?

Of the $4.5 billion, almost $2.5 billion will go to the National Fish and Wildlife Federation. The agency says they're using it for environmental cleanup throughout the Gulf Coast.

About $1.5 billion will go toward criminal fines.

Around $525 million will go to the Securities and Exchanges Commission to settle criminal charges of BP misleading investigators.

Finally, $350 million is headed toward the National Academy of Sciences. The organization will use the money to start a 30-year-program on human health in the Gulf.

There's still a possible $8 billion dollar settlement to be decided on between BP and 100,000 businesses and people impacted by the spill. That's expected to be brought up in the next year.


Comments News Comments

Post new Comment