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
Environmental impact of the Deepwater Horizon oil spill that the damage from the spill would rapidly resolve, three years into the recovery dolphins continue to die, fish are showing strange lesions, corals in the gulf have died and oil still remains in some marsh areas. Due to both its size and the way it was handled, there is little previous research to predict long-term effects. At the 2013 "Gulf of Mexico Oil Spill and Ecosystem Science Conference", oceanographer David Hollander presented data that showed as much as one-third of the oil released during the spill may still be in the gulf. Researchers described a phenomenon called "dirty blizzard":