Brief: BP oil spill trial delayed

Maroon Staff

NEW ORLEANS (AP)— A judge has delayed the federal trial over the nation’s worst offshore oil disaster by a week, saying Sunday, Feb. 26 that BP was making some progress in settlement talks with a committee overseeing scores of lawsuits. Among other things, the trial that is now set to begin March 5 is meant to determine the penalties that need to be paid by BP and other companies involved in the oil spill. Financial analysts estimate BP could wind up paying anywhere from $15 billion to $30 billion over the lawsuits, and BP has estimated in regulatory filings that its total liability for the disaster is $40 billion.