National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling The National Commission on the BP "Deepwater Horizon" Oil Spill and Offshore Drilling is a bipartisan presidential commission, established by Executive Order signed by Barack Obama on May 21, 2010, that is "tasked with providing recommendations on how the United States can prevent and mitigate the impact of any future spills that result from offshore drilling." It came about as a result of the April 2010 Deepwater Horizon oil spill. The first public hearings, held on July 12 and 13, 2010 in New Orleans, included scheduled testimony from
Economic effects of the Deepwater Horizon oil spill the total liability could amount to as much as by the conclusion of the disaster. Financial analysts commented that BP was capable of addressing the potential liabilities that might result, and BP stock rose slightly on the news that the initial compensation fund had been agreed. On 5 July 2010, BP reported that its own expenditures on the oil spill had reached $3.12 billion, including the cost of the spill response, containment, relief well drilling, grants to the Gulf states, claims paid, and federal costs. As of 1 October 2010, BP has spent $11.2 billion. As of March 2012, BP