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
Harte Research Institute for Gulf of Mexico Studies spill that released more than 4.9 million barrels of oil into the Gulf of Mexico between April 20, and July 15, 2010, created a unique opportunity to address many of the long-term issues fundamental to the Gulf’s future sustainability. HRI scientists have and continue to provide leadership in assessing the long-term impacts of the largest accidental marine oil spill in the history of the petroleum industry and are fostering the Gulf’s recovery by helping guide restoration to assure that conservation efforts are effective and long lasting. HRI has already influenced the allocation of billions of dollars toward Gulf restoration and