BP SETTLES OUT OF COURT
BP pleads guilty to 14 felony charges and agrees to pay a record amount 4.5 million in penalty charges. The rig explosion and ensuing oil spill took 11 lives of the coast. In addition 17 others were injured in the explosion. The Deep-water horizon platform which is located 50 miles off the coast of Louisiana sank after an explosion on April 20, 2010. The mile-deep Macondo oil well spewed 4.9 million barrels of oil into the Gulf of Mexico which then floated to the coast line from Florida to Texas.