Deepwater Horizon oil spill and payments to a trust fund had cost the company $42.2 billion. In September 2014, a U.S. District Court judge ruled that BP was primarily responsible for the oil spill because of its gross negligence and reckless conduct. In July 2015, BP agreed to pay $18.7 billion in fines, the largest corporate settlement in U.S. history. How the misuse of categorical exclusion for National Environmental Policy Act (NEPA) compliance relates to this spill is described in Regulatory Capture. The "Deepwater Horizon" was a 10-year-old semi-submersible, mobile, floating, dynamically positioned drilling rig that could operate in waters up to deep. Built
Reactions to the Deepwater Horizon oil spill of one of the country's leading companies", to President Obama (text of letter) that expressed a concern over "double standards" compared to the sub-prime based banking crisis of 2007–2010 and over "prejudicial and personal" comments in the media. Initially BP downplayed the incident; CEO Tony Hayward called the amount of oil and dispersant "relatively tiny" in comparison with the "very big ocean." Hayward also initially stated that the environmental effect of the Gulf spill would likely be "very very modest." Later, he said that the spill was a disruption to Gulf Coast residents and himself adding, "You know, I'd like