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Retirely in The things you own end up owning you,

Judge approves $20 billion settlement in the 2010 BP gulf oil spill. Executives scramble to find a way to make up for the three days worth of profits

A federal judge in New Orleans granted final approval Monday to an estimated $20 billion settlement over the 2010 BP oil spill in the Gulf of Mexico, resolving years of litigation over the worst offshore spill in the nation’s history.

“We are pleased that the Court has entered the Consent Decree, finalizing the historic settlement announced last July,” BP spokesman Geoff Morrell said in an email.

General Loretta Lynch praised the settlement.

“Today’s action holds BP accountable with the largest environmental penalty of all time while launching one of the most extensive environmental restoration efforts ever undertaken,” Lynch said in a statement.

 

They’ll most likely have their lawyers appeal the ruling, thus tying up any compensation to those effected in legal limbo for decades, a la the Exxon Valdez spill. No see, the word “settlement” means, they agreed to this, meaning this is the amount of money that actually gets paid out.  This is the difference between the word s “settlement” and “verdict”.  One can be appealed the other, since you voluntarily agree to it,  cannot.

They will get to write it off – Big Oil Spill Tax Write-off Shows BP Does Not Stand For ‘Big Penalty’ – that’s why it’s nice being a corporation in America.