The Court approved Consent Decree outlines more than $20 billion in damages. Louisiana will receive a minimum of $6.8 billion for claims related to natural resource damages under the Oil Pollution Act, Clean Water Act civil penalties, and the State’s various economic claims.
- Up to $8.8 billion for natural resource damages (includes $1 billion in early restoration projects);
- $5.5 billion for Clean Water Act civil penalties (plus interest; subject to the RESTORE Act); and
- $600 million for other claims.
- A minimum of $5 billion for natural resource damages (includes $368 million previously allocated for early restoration projects);
- A minimum of approximately $787 million for Clean Water Act civil penalties (subject to the RESTORE Act); and
- $1 billion for state economic damages.
Governor John Bel Edwards released the following statement on a federal court’s approval of the BP settlement. This decision clears the way for Louisiana to receive critical coastal restoration funding and provide immediate assistance to close the current fiscal year’s budget deficit.
“This is great news for the people of Louisiana. The BP oil spill nearly crippled our state and did damage to our coast and communities that will take years to rectify. I am pleased with the court’s decision to bring this issue to a close. Louisiana is in a race against time when it comes to saving our coast. Today’s decision enables us to continue making critical investments in our coast, and equally important, to keep the funding in place needed to close the current fiscal year’s budget deficit. I appreciate the work of everyone involved in this case.”