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
Morris J. Berman oil spill response efforts could be improved. Several, though not all, of the things learned during this spill affected response efforts for future spills such as the BP Oil Spill in the Gulf of Mexico in 2010. Morris J. Berman oil spill The Morris J. Berman oil spill occurred on January 7, 1994, when the "Morris J. Berman", a single-hull 302-foot-long barge, with the capacity to carry more than 3 million gallons of oil, collided with a coral reef near San Juan, Puerto Rico, causing the release of 750,000 gallons of heavy grade oil. The spill affected the tourism and fishing industries