08/09/2010 11:32 pm ET | Updated May 25, 2011

Obama Administration, BP Nearing Deal On Oil Spill Fund

WASHINGTON--The Obama administration and BP PLC are close to a deal to use future revenues from the oil giant's Gulf of Mexico operations to guarantee its $20 billion cleanup and compensation fund, a move that would give both sides an incentive to continue production in the Gulf, scene of the U.S.'s worst-ever offshore oil spill.

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