Settlement Reached In The BP Oil Spill Trial

After over a year and a half since the oil spill in the Gulf, a settlement has finally been reached with BP.  This past Friday, the deal between the plaintiffs, who are the tens of thousands of people along the Gulf Coast that were affected by the spill, and BP was struck and the claims process will begin immediately.

The settlement reached was an uncapped settlement, which means BP could be liable for an unlimited amount of money.  BP estimates that the cost will actually be somewhere around $7.8 billion.