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1 Exxon Valdez oil spill, 1989: The clean-up of the oil spill cost an estimated $2.5 billion; recovery for settlements, $1.1 billion; and the economic loss (fisheries, tourism, etc.) suffered due to the damage to the Alaskan ecosystem was estimated at $2.8 billion;
Under federal law, BP will have to pay to restore the damage to natural resources caused by its spill â a scientific assessment that is ongoing and could take years to resolve. BP also faces a court judgment that could top $13 billion in an ongoing liability case.