Bloomberg: Settlement Likely Over Gulf Oil Spill

The Gulf Oil Spill resulted in about 25 percent less oil being spilled, according to a federal judge’s ruling last week. That ruling, according to a Bloomberg column, is likely to trigger a settlement by BP with the government.

A federal judge ruled on January 15 that any penalty will be based on the size of the spill, which he said was about 25 percent less than estimated by the government. That ruling “reduced the potential maximum” fines for the spill to $13.7 billion from $18 billion.”

That, write the columnists, increases the “incentives” for a settlement.

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