Given the broad contours of the historic $18.7 billion "agreement in principle" announced this month between the U.S. Department of Justice, Gulf states and BP to resolve government claims from the 2010 Deepwater Horizon spill disaster, there is cause for optimism.

The proposed deal, which would be the largest environmental settlement in history, includes $7.1 billion for natural resource damages to the federal and state governments; $5.5 billion Clean Water Act penalties, most of which would go to Gulf restoration; $4.9 billion for economic damages to states; $1 billion to 400 local governments; and $232 million for future environmental damages unknown at this time.

Most importantly, the deal would fund an unprecedented environmental recovery program for the Gulf, and help bring closure to one of the nation's worst environmental disasters.

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