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Thursday July 31st 2014

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Buzz: BP settlement could be $14 billion


The Wall St. Journal is reporting that BP and the lawyers for those hurt by the massive 2010 Gulf of Mexico oil spill are discussing a possible $14 billion settlement, which will be paid out of the $20 billion fund the oil giant set up for its Gulf Coast Claims Facility. BP still faces environmental penalties that could be an additional $20 billion as well as criminal charges.