Judge approves $20B BP oil spill settlement

A New Orleans federal judge granted final approval Monday to a nearly $20 billion settlement sorting out years of litigation over the 2010 BP oil spill in the Gulf of Mexico the settlement includes $5.5 billion in civil Clean Water Act penalties and billions more to cover environmental damage and other claims by the five Gulf states and local governments The money will be paid out over a 16-year period The 2010 offshore rig explosion killed 11 workers and caused a 134-million gallon spill