As reported by The Hill, the fine breaks down as follows
- $5.5 billion to settle civil claims under the Clean Water Act
- $7.1 billion for environmental restoration work
- $700 million to compensate for still-unknown damages to natural resources in the region
- $4.9 million to Gulf Coast states affected by the spill
- $1 billion to local communities. Florida, Alabama, Mississippi, Louisiana and Texas will split that portion of the settlement.
- BP has also already spent more than $1 billion on environmental restoration work in the area
Biologists have observed that the 3.19 million gallons of oil that pored into the Gulf is having long term effects that continue to this day.
"This is still the largest environmental penalty under the Clean Water Act and Oil Pollution Act, ever," Attorney General Loretta Lynch said. "BP is receiving the punishment it deserves while also providing critical compensation to the damage to the Gulf region."
The punishment will serve as a deterrent that will hopefully prevent similar disasters in the future.
"The steep penalty should inspire BP and its peers to take every measure necessary to ensure that nothing like this can ever happen again," Lynch said.
The $20.8 billion fine is separate from the class-action settlement with businesses and individuals affected by the spill.
Environmental Protection Agency Administrator Gina McCarthy noted that the settlement includes $700 million to address any potential environmental damages that officials have yet to discover.
"Justice is not about dumping a pile of money and walking away," McCarthy said. "It is about investing in sustainable ways that empower and strengthen the Gulf communities over the long term."
The settlement still needs to be approved by a federal court.
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