How much did it cost to clean up the Gulf of Mexico oil spill?

How much did it cost to clean up the Gulf of Mexico oil spill?

BP also paid about $15 billion in cleanup costs and another $20 billion in economic damages to companies and individuals harmed by the spill.

How much did it cost to clean up the oil spill?

The answer: the $61.6 billion cost to BP of the 2010 oil spill in the Gulf of Mexico. On Thursday, BP issued its final estimate of the cost of the spill, the largest in U.S. history.

How much did it cost to fix deepwater horizon?

In July 2016, BP announced Deepwater Horizon’s total cost was $61.6 billion dollars. According to Reuters, however, as of September, the British oil and gas company has paid $63.4 billion in legal fees and cleanup costs.

How much did the 2010 oil spill cost?

NEW ORLEANS (AP) — Oil giant BP PLC has put a final price tag on what its catastrophic Gulf of Mexico oil spill cost the company, and it’s a hefty sum: $61.6 billion.

Who pays to clean up oil spills?

By law, the parties responsible for the use, transportation, storage, and disposal of hazardous substances and oil are liable for costs. This liability applies to the cost of containment, cleanup, and damages resulting from a release related to their own activities.

How much is Pemex worth?

In 2021, the value of the Pemex brand was estimated at 5.55 billion U.S. dollars, down from more than eight billion dollars a year earlier. Pemex is a Mexican state-owned petroleum company and the second most valuable Mexican brand.

What is Exxon Mobil net worth?

Exxon’s net worth is $350 billion. Exxon, or Exxon Mobil, is a corporation focused on gas and mobile production based in Irving, Texas.

How did they get the oil out of the Gulf of Mexico?

About 5 to 6 percent of the oil from the Deepwater Horizon oil spill was removed by controlled burning. A C-130 Hercules from the Air Force Reserve Command deploys dispersant into the Gulf of Mexico May 5, 2010, as part of the Deepwater Horizon/BP oil spill response effort.

How did BP pay for the Gulf of Mexico oil spill?

After the spill, state and federal agencies undertook an intense scientific study of the impacts of the spill. They used this assessment to develop a science-based, comprehensive restoration plan for the Gulf of Mexico, which will be funded through a settlement with BP for up to $8.8 billion.

How much money did Louisiana get for the oil spill?

Those funds are credited towards the possible final $8.8 billion total. Louisiana will receive more than half the funding, $5 billion, since it saw the most significant damage from the spill. Detailed allocations and project information can be found on the Trustee Council website.

What kind of animals were affected by the Gulf of Mexico oil spill?

Pictures of pelicans, sea turtles, and other Gulf of Mexico wildlife struggling in oil were among some of the most disturbing images of the Deepwater Horizon oil spill disaster in 2010. According to the U.S. Fish and Wildlife Service, thousands of “visibly” oiled animals (pdf) —which include birds, sea turtles,…