JEFFERSON PARISH, La. -- An $18.7 billion settlement in BP oil spill litigation has been reached between the company and several Gulf states and local governments, Attorney General Buddy Caldwell announced.
Of that settlement, $6.8 will go to Louisiana, Caldwell announced, with $5 billion for natural resource damages (includes $368 million in previously allocated early restoration), a minimum of approximately $787 million for Clean Water Act civil penalties distributed through the RESTORE Act (Louisiana's portion of the RESTORE Council distributed funds has yet to be determined); and $1 billion for state economic damages.