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
Deepwater Horizon oil spill 318,000 Louisiana residents (17% of all jobs in the state). NOAA had closed , or approximately 36% of Federal waters in the Gulf of Mexico, for commercial fishing causing $2.5 billion cost for the fishing industry. The U.S. Travel Association estimated that the economic impact of the oil spill on tourism across the Gulf Coast over a three-year period could exceed approximately $23 billion, in a region that supports over 400,000 travel industry jobs generating $34 billion in revenue annually. On 30 April 2010, President Barack Obama ordered the federal government to hold the issuing of new offshore drilling leases