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
Volume and extent of the Deepwater Horizon oil spill approached the Delta National Wildlife Refuge and Breton National Wildlife Refuge. On 19 May 2010, both NOAA and other scientists monitoring the spill with the European Space Agency Envisat radar satellite stated that oil had reached the Loop Current, which flows clockwise around the Gulf of Mexico towards Florida and then joins the Gulf Stream along the U.S. east coast. On 29 June 2010, NOAA determined that the oil slick was no longer a threat to the loop current and stopped tracking offshore oil predictions that include the loop currents region. The omission is noted prominently on the ongoing nearshore