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
Volume and extent of the Deepwater Horizon oil spill water in a "dissolved or dispersed form". On 16 August 2010, UGA scientists said their analysis of federal estimates show that 80% of the oil the government said was gone from the Gulf of Mexico is still there. The Georgia team said "it is a misinterpretation of data to claim that oil that is dissolved is actually gone". Oil began washing up on the beaches of Gulf Islands National Seashore on 1 June 2010. By 4 June 2010, the spill had landed on of Louisiana's coast, had washed up along Mississippi and Alabama barrier islands, and was found for the