BP To Pay Gulf Coast States, Feds $18.7 Billion

03:44

July 02, 2015

In this April 21, 2010 image provided by the U.S. Coast Guard, fire boat response crews battle the blazing remnants of the off shore oil rig Deepwater Horizon. (US Coast Guard/AP)

Alabama, Mississippi, Texas, Florida and Louisiana - along with the federal government - have announced a massive settlement with the oil and gas giant BP to resolve the massive legal claims resulting from the 2010 Deepwater Horizon oil spill.

The British oil company will pay $18.7 billion over an 18-year period to compensate for damages, both environmental and economic. NPR's Debbie Elliott joins Here & Now's Jeremy Hobson with details on the deal.

Guest

Debbie Elliott, national correspondent for NPR. She tweets @NPRDebElliott.

This segment aired on July 2, 2015.