Opening Day For Gulf Coast's $20 Billion Man

The $20 billion compensation fund BP set up to alleviate the burden of the Deepwater Horizon oil spill on the Gulf Coast opens for business today.

Despite expected increases in prospective payouts to people and businesses affected by the disaster, Kenneth Feinberg, who will be running the fund, has taken heavy fire from critics who argue that the rules he has implemented are unfair and favor BP rather than the citizens of the gulf.

“I am beholden to neither the administration nor BP. I am entirely independent,” Feinberg said in a Sunday news conference.

Feinberg said that BP has already shelled out $375 million in compensation, a figure completely independent from the $20 billion compensation fund.

Thirty-five offices have been set up in the five coastal states of Texas, Louisiana, Mississippi, Alabama and Florida where people can go to file their claims. Prospective claimants can also visit www.gulfcoastclaimsfacility.com to file for compensation or to find out more about qualifying information.