The Resources and Ecosystems Sustainability, Tourism Opportunities and Revived Economies (RESTORE) Act was signed into jaw in July. The act will require 80 percent of penalties paid by BP plc (London, England) under the Clean Water Act to go to gulf states for ecological and economic restoration after the Deepwater Horizon oil spill. The Clean Water Act allows EPA to collect $1,100 per barrel of oil spilled, or $4,300 per barrel if there is a finding of gross negligence, from parties found responsible for an oil spill in federal waters. Based on the estimated 4.9 million barrels of oil spilled in the Gulf of Mexico, BP could face fines between $5.4 billion and $21.1 billion.
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