The 1989 Exxon Valdez oil spill, which was considered by many to be the most devastating environmental disaster in history, released an estimated 10.8 million gallons of crude oil.  It is estimated that the recent Deepwater Horizon oil spill will release 100 million gallons of crude oil by the time the spill is capped and far exceed the environmental damage caused by Exxon Valdez.  The Deepwater Horizon spill started on April 20, 2010, while the Deepwater Horizon was engaged in dangerous deep-water drilling in the fragile ecosystem off the coast of Louisiana.  An explosion on the  Deepwater Horizon drilling rig resulted in a catastrophic fire, sinking the rig and resulting in a massive oil spill that is estimated to be releasing a constant flow of 210,000 gallons of crude oil per day.  The 30 mile slick is expected to reach as far as Florida and is expected to have lasting repercussions.

British Petroleum, which leased the rig and which is the principal developer of the oil field, has been named as the responsible party for this incident by the United States Government. The United States Government has also stated that it will hold British Petroleum accountable for all costs and damages which result from the oil spill.  The British Petroleum well did not have inexpensive remote-control or accoustically-activated shut off switches that could have been used when the rig started to sink.  Oil companies persuaded United States regulators that such safety precautions were unnecessary.  Moreover, the rig's fail-safe device that should have automatically cut off the oil flow when the explosion occurred, failed.  British Petroleum was aware that the rig was not in compliance with State and Federal laws, as the Coast Guard issued the Deepwater  Horizon 18 citations for "acknowledged pollution source" between 2000 and 2010.  Prior to the April 20, 2010 catastrophe, there have been numerous spills and fires on the Deepwater Horizon.

The spill poses a threat to over 400 species, including whales and dolphins.  Louisiana's wetlands, which are still recovering from Hurricane Katrina, are especially vulnerable. The spill has already affected the Delta National Wildlife Refuge and the Breton National Wildlife Refuge, where dead animals, including an endangered sea turtle, have been discovered. 

It is estimated that the spill will result in $2.5 billion in damages to the fishing industry and $3 billion in damages to the Florida tourism industry.  In addition to the detrimental effects on their livelihoods and the beauty of their surrounding environment, the spill also presents a threat to health of the residents of the Gulf Coast, as oil contamination has been linked to a significantly increased risk of cancer and other illnesses.

Dozens of lawsuits have been filed by the families of British Petroleum employees and by individuals and businesses that have been affected by the spill. The Lanier Law Firm has filed a class action oil spill lawsuit in the Eastern District Court of Louisiana seeking economic and punitive damages against British Petroleum (BP), Transocean, Halliburton,  and Cameron International.