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# Watch: Attorney General Loretta Lynch Announce BP Settlement

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<!-- video src="https://cdn.jwplayer.com/manifests/ECAk52TB.m3u8" -->
## Video: Watch: Attorney General Loretta Lynch Announce BP Settlement

[Watch (HLS stream): Watch: Attorney General Loretta Lynch Announce BP Settlement](https://cdn.jwplayer.com/manifests/ECAk52TB.m3u8) (0:57)

![Watch: Attorney General Loretta Lynch Announce BP Settlement](https://cdn.jwplayer.com/v2/media/ECAk52TB/poster.jpg?width=720)

_Published 2015-10-05. Watch: Attorney General Loretta Lynch Announce BP Settlement_


---

Jul 27, 2023 6:55 PM UTC

---

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### Obama To Nominate Loretta Lynch As Attorney General

---


## Transcript

I am pleased to announce that we have secured a historic resolution of our pending claims against BP totalling more than 20 billion dollars. Making it the largest settlement with a single entity in American history. Taken as a whole, this resolution is both strong and fitting. BP is receiving the punishment it deserves. By also providing critical compensation for the injuries that it caused to the environment and the economy of the Gulf region. The State penalty should inspire BP and its peers to take every measure necessary to ensure That nothing like this can ever happen again. Once approved by the court, this agreement will launch one of the largest environmental restoration efforts the world has ever seen.

Under the Restore Act, 80 % of the five and a half billion Clean Water Act penalty will go to help the Gulf recover from the injuries that it has suffered.

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