Taylor Energy agrees to pay $43 million in settlement over U.S.’s longest-ever oil spill
New Orleans, December 27 (RHC)-- The U.S. Justice Department said Louisiana-based Taylor Energy has agreed to pay $43 million in damages and turn over a $432 million clean-up trust fund for an oil leak in the Gulf of Mexico that has been spilling since 2004.
The leak began after Hurricane Ivan caused a 40-story oil-drilling platform to collapse. Taylor Energy also agreed to drop legal challenges to government clean-up orders over the longest-running spill in U.S. history, though it will not have to admit liability as part of the settlement. A federal judge still has to approve the deal.
