BP to Pay $18.7 Billion for Deepwater Horizon Oil Spill. According to the NYTimes:

The Gulf Coast states and the federal government have reached a tentative settlement with BP for the British oil company to pay $18.7 billion over 18 years, to compensate for damages from the 2010 Deepwater Horizon oil spill, state officials said Thursday.

“This is a landmark settlement,” Gov. Robert Bentley of Alabama said. “It is designed to compensate the state for all the damages, both environmental and economic.”

The settlement covers suits filed by Alabama, Florida, Louisiana, Mississippi and Texas as well as the federal government.

Some additional information from The Guardian.