Deepwater Horizon Oil Spill Trust Deepwater Horizon Oil Spill Trust The "Deepwater Horizon" Oil Spill Trust is the $20 billion trust fund established by BP to settle claims arising from the "Deepwater Horizon" oil spill. The fund was established to be used for natural resource damages, state and local response costs and individual compensation. It was established as Gulf Coast Claims Facility (GCCF), announced on 16 June 2010 after meeting of BP executives with U.S. President Barack Obama. In June 2012, the settlement of claims through the GCCF was replaced by the court supervised settlement program. After the "Deepwater Horizon" oil spill started, BP promised
Gulf War oil spill Gulf War oil spill The Gulf War oil spill was one of the largest oil spills in history, resulting from the Gulf War in 1991. The apparent strategic goal was to foil a potential landing by US Marines. It also made commandeering oil reserves dangerous for US forces as visibility and movement were inhibited. The immediate reports from Baghdad said that American air strikes had caused a discharge of oil from two tankers. Coalition forces determined the main source of oil to be the Sea Island terminal in Kuwait. On January 26, three US F-117 fighter-bombers destroyed pipelines to prevent