BP stock prices again fell. By January 2007, the explosion, coupled with a pipeline spill in Alaska and production delays in the Gulf of Mexico, left BP's stock down 4.5% from its position prior to the Texas City explosion. However, by April 2007, stocks had rebounded 13% erasing the 8.3% loss from 2006. Declining oil prices and concerns over oil sustainability also caused shares to fall in value in late 2008. The Deepwater Horizon oil spill in April 2010 initiated a sharp decline in share prices, and BP's shares lost roughly 50% of their value in 50 days. BP's shares reached
Gulf of Mexico BP reached an $18.7bn settlement with the US government, the states of Alabama, Florida, Louisiana, Mississippi and Texas, as well as 400 local authorities. To date BP's cost for the clean-up, environmental and economic damages and penalties has reached $54bn. According to the National Response Center, the oil industry has thousands of minor accidents in the Gulf of Mexico every year. On May 12, 2016, a release of oil from subsea infrastructure on Shell's "Brutus" oil rig released 2,100 barrels of oil. This leak created a visible 2 mile by 13 mile oil slick in the sea about 97 miles