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
Deepwater Horizon oil spill leaked oil had been greatly exaggerated. However, biogeochemist Chris Reddy, said natural microorganisms are a big reason why the oil spill in the Gulf of Mexico was not far worse. Genetically modified "Alcanivorax borkumensis" was added to the waters to speed digestion. The delivery method of microbes to oil patches was proposed by the Russian Research and Development Institute of Ecology and the Sustainable Use of Natural Resources. On 18 May 2010, BP was designated the lead "Responsible Party" under the Oil Pollution Act of 1990, which meant that BP had operational authority in coordinating the response. The first video