Arguments conclude in BP trial on size of Gulf spill

By Kathy Finn | Reuters

 

By Kathy Finn

NEW ORLEANS (Reuters) - Lawyers for BP Plc and the federal government concluded their arguments on Friday in the second phase of a trial to determine the size of the 2010 U.S. Gulf oil spill, a finding that will be used to set a fine against BP under the Clean Water Act.

U.S. District Judge Carl Barbier will use evidence presented at this month's trial phase to assign damages some time next year. The damages would be for the blowout of the Macondo well that leaked crude into the Gulf for 87 days and killed 11 men.

A third stage of trial that will cover the environmental impact of the spill and its aftermath. The first phase of the trial, which dealt with the issue of negligence, concluded on April 17.

Potential fines under the Clean Water Act could top $17 billion (10.5 billion pounds), an amount close to BP's annualized profits as of last quarter, th