BP Appeals Oil Spill Settlement Agreement Over Damage Claims
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JUDY WOODRUFF: Next: BP’s battle in the Gulf Coast over economic damages from the big oil spill of 2010, one of the worst environmental accidents in the country’s history.
Last year, the oil giant agreed to an uncapped financial settlement following the disaster in the Gulf of Mexico. The company estimated it would pay nearly $8 billion dollars to cover tens of thousands of claims from businesses and affected properties. But now BP says that settlement has grown to a point where fictitious claims are being made.
In April, a federal judge in New Orleans, who’s also overseeing a major civil trial against the company, refused BP’s request to change the agreement. Yesterday, BP appealed his decision before a three-judge panel. The company has also stepped up a public campaign to make its case, including a full-page ad in three major U.S. newspapers, and it has released a Web video saying it’s paid more than 300,000 claims to date.